SuperNET Newsletters

This week we’ve got the usual roundup of news and developments. The tech is coming together, as James writes: ‘It is getting very close. The core, GUI and windows are really three totally independent projects, but they all need to come together to get a windows release. This is happening.’

James own role could be coming to an end as the core functionality nears completion. ‘I prefer to just make a decentralized self-organizing topology network that allows individuals to remain private and offer services without worrying about all the details cuz it just works.’

Agents

Agents is James’ dev-friendly plugins system. It offers an easy way of creating new features. James writes, ‘I released Lchains MGW, so far not so many bugs at all, and I got the InstantDEX ported into new structure in 2 days. That includes making cgi, which I never did before. Need to debug it, won’t take long. Then we can get a GUI + core to test on unix. When Windows has SuperNET, then we can make a one click installer. My work is almost done.

‘With agents, especially supporting many languages, I just need to be advising other coders, instead of having to do it all myself. It is like completing the operating system, but there are not so many applications yet. That is why I am making reference applications like MGW, InstantDEX, etc.

‘echodemo is 50 lines of code, but it has all that is needed to make an agent. If you can parse and process JSON, that is all an agent needs to do. It is a JSON processor: JSON input -> JSON output. The agent system automagically gets the inputs from the entire SuperNET and returns the output to where it needs to go. All the networking is abstracted out of it.’

If you want to join development, join SuperNET Slack channel #agents.

Dev assets

SuperNET will be issuing SuperNET Dev assets / “carreer assets”.

The dev will own 90% of this, SuperNET 5% and 5% is dividended out.

100% of a devs earnings from SuperNET is pushed through this asset, so investors can for the first time directly invest in the future earnings of a specific dev. Also, each dev will have a high priced sell wall, so people that want to donate can just pay the above market price.

James writes, ‘Last year I had this idea for artists/athletes, but they are entangled in real world contracts and agents, and therefore problematic, also making sure that they honor the dividend commitment is even more problematic and would require real world contracts.

But the basic idea is sound, ie allow a talented professional to capitalize their future revenues. This allows such a talent to avoid the “starving student” years by selling off part of their future earnings. It also allows investors for the first time (!) to invest in a specific dev, instead of the projects a dev is involved in. Granted, these assets can only assure investors that revenues from SuperNET are paid out, but since it is based on trust in a specific dev, the asset is directly related to the trustworthiness of the dev and his/her future potential’.

Dividend sent

BTCDdev and longzai assets have been sent to SN holders as SuperNET Slack reached 777 users.

MGW agent

James now uses Lchains to make deposits to MGW. Integrating Lchains makes it significantly faster: ‘Tx 14981284329551545928 is the first automated Lchain MGW deposit. I still need to get the stats reporting fully debugged, but withdraw is the next (and last) thing needed to be done for MGW to be ready for larger scale testing. Latest really really fast ramchain has regenerated 300K BTC blocks in 10 hours. Since it used to take more than 10 days, this is quite a speed boost and also enables debugging at a much faster cycle.

‘I added the ledgerchain code to the (literally) 7th iteration of the ramchain generation. It still will take some minutes to restart from scratch, but if that becomes an issue I already figured out an instant start solution.

‘I had to get the BTC MGW not only working, but fast to run and fast to start and fast to regenerate. These actually are three completely different problems and each one not so easy, but the latest solution is getting close to the “speed of light” type of barrier where I can’t see how to make it go much faster. Maybe someone smarter than me will find ways to make it go even faster… oh, it uses a lot less RAM too. When the code is really optimized, both the algorithm, resource usage and code, then it starts becoming harder and harder to improve it.’

Lchains are the evolved form of ramchains in which ramchains are used to create another layer of data, i.e. the ledger. Learn more about Ramchains here: http://test.nxter.org/?p=7826

Test it

BTCD Lchains MGW is ready for testing. The same code for BTCD MGW is used for BTC MGW. Instructions:

The above is the proper syntax to query the MGW servers via the relays.

Small fees to cover server costs

‘MGW [Nxt asset ID 10524562908394749924] has a valuation that is 10% of InstantDEX, actually a bit less due to server costs. I added a bit of withdraw fee (0.05%) and nobody complained, so maybe it can cover server costs from there’.

InstantDEX agent

InstantDEX (Nxt asset ID is looking great:

James writes, ‘I predict I will reach code complete (meaning only bug fixes left to do) for my portion of InstantDEX on / – what day is today? – / – [tuesday] – / – cool. I think I am at code complete’.

‘The first version will be limited to a few thousand nodes. There are other components too; still a wider scale beta test is hopefully possible soon as the MGW servers are being configured, windows actually got past init and recv packets and the GUI is looking good. Quite a few parts to put all together and we will need as many testers as possible’.

It is still unix only, if you’re interested, join SuperNET Slack channel #testing-instantdex

‘The advantage to testing early is that you will be able to take advantage of the arbitrages that InstantDEX will find automatically for you. I still have improvements in the core I want to do, but I think I can do this as the rest is being finished. I don’t like the long time it takes to regenerate orderbooks, but from the Lchains work I have a way to realtime update NXT tx so it takes no time.

Once I use that for the NXT AE orderflow, then it should be able to create orderbooks in less than 1 second. That and making a dynamic topology for efficient native InstantDEX orderbook propagation. I hope to get both things working this weekend, just might be a long weekend, but when it is done, then we will be able to handle thousands of active InstantDEX traders.’

Cryptosleuth, working on the GUI, writes, ‘I am trying to make it so mostly everything can be customized. The charts on the right you can switch between candlestick/line/areaspline atm, and I am thinking of some other things you can put in there, like combining two to make a mini orderbook/place order window to trade multiple markets easy. I haven’t spent much time on extra things that aren’t needed at GUI’s core.’

PrivateBET agents

Btcddev will be writing a set of C-based agents. The decentralized relays will act as a clearinghouse of all available bets, results, etc. By using the agents method, the problem is divided into several pieces, each becoming a single purpose agent.

Data feed

‘We have the data feed agents, which are there to get (for example) the sports results published to SuperNET – they don’t have to deal with exactly who needs to get it, etc, as SuperNET handles all that. Just get the data and publish.’

Privatebet

‘Now, SuperNET has this data about the sports events and any client with the Privatebet client agent will be able to browse and subscribe, but most importantly the end user will be able to post privatebets, and all the other privatebet clients will be able to find all the available privatebets. Then, similar to InstantDEX direct peer-to-peer process, they will verify terms, lock funds, and then when the event is completed release payment to the winner.’

Cashier Agent

‘There will be a generic cashier agent available to all the other SuperNET agents, so the process of payments is abstracted. At first it will need to be for the same currency in matched amounts, but later I will allow matching X amount of this currency for Y amount of that currency. Of course if the market moves, the value changes, but this is part of the fun.

‘The handling of monies can of course be monetized using the golden rule. Just a percentage of bets to be kept, and the privatebet itself is not needing a bankroll.

‘When the privacy agents become available, betting will be private. In the meantime if you are in USSA please don’t use this, as it is most likely not allowed. Unless you are in Las Vegas, or one of the 14,000 Indian casinos…

‘Since there isn’t a lot of liquidity on the sell side, I can offer bulk amounts direct in BTC or NXT, 1% discount from market price per BTC to a max discount of 20%, but only for a limited time and total amount. PrivateBET [asset ID 17083334802666450484] is majority owned by NXTprivacy [ID 17911762572811467637], which SuperNET has 25% stake in.’

Crypto777

Dividend

James has donated a significant proportion of his new Crypto777 asset (id: 13476425053110940554) to SuperNET. 7.5% / 7.5% / 5% has been donated to SuperNET / NXTventure / JLH, and 24%+ has been sent into the SuperHODL account.

James writes, ‘Yes, I did just put in nearly half of crypto777. It is now the fourth core asset and I didn’t want there to be any resistance for its usage within SuperNET. What is good for crypto777 is good for SuperNET. The crypto777 donated to SuperNET has added around 30 NXT to UNITY’s NAV’.

Crypto777 is a pipeline asset, and the dividend won’t be made for some time. ‘Current AE orderbook sells need to be cleared and the tech needs to be in beta release or very close’, James writes.

How is crypto777 going to be monetized?

‘There are several ways it can be monetized. It is not officially out yet, I just had a bit of spare time so wanted to get it all in place. It will take some time to get ramped up for the selling of services. It is not a short term thing.

‘The backed and pegged system aims to make a blockchain-enforced mechanism to allow people to get interest on their crypto holdings and there will also be a bid/ask spread built into the blockchain, so these are two sources of monetization.

‘Additionally my idea for providing crypto consulting services to fiat companies, especially with tech like Lchain, well just a few big contracts and it will be making for quite a large cashflow. With the agents system that I will extend to have crypto777 primitives, customizing private blockchain (or even nochain) will be much more efficient than making something from scratch.’

Crypto777 aims to ‘be the tech that solves the final unsolved things about crypto’:

Blockchain bloat

Price volatility

Inconsistent blocktimes

Too easy to get hacked

‘With the new SuperNET agents system, I am seeing how many parts can be done in a nice and simple way and reducing the scope of the remaining issues, but this is not an easy problem to solve, as a fully decentralized fiat peg is kind of hard to do. Consensus Research (andruiman and kushti, https://nxtforum.org/consensus-research/) is helping from the theoretical and math side and will even be doing a white paper, which everybody seems to like so much.

Job offer to technical sales creature

‘I am seeing literally dozens of companies getting millions of dollars, and the tech they are needing doesn’t seem to be very much advanced. So, I think with the crypto777 agents system, it would be possible to create customized solutions for corporates, especially the ones with tons of VC money and not enough devs.

‘I need somebody to take the lead for developing this service. We can offer fixed price contracts (for projects with very high confidence levels) so there won’t be any budget risk.

I think contracts in the $50,000 to $100,000 range are possible. Such contracts at first would need to be done by myself, so clearly can’t get this sold in the near term – then again, maybe if we had budgets like that, we can hire coders to work under my guidance. Net profits would be going out as dividends. So if you have experience with technical sales to corporates, contact me.

‘I think some sort of bounty for business brought in and/or percentage of deal flow makes this worth the while for someone who already has the contacts. And if you have experience managing dozens of coders doing half a dozen projects, then this could ramp up into a nice amount of business.’

1%-20% discount on core assets

James writes, ‘I can offer a discount of 1% off of marketprice per BTC, up to a max of 20% off. I accept BTC, NXT, maybe even other things’.

‘Short term I think NXTcoinsco/Tradebots will be pretty good, medium term NXTprivacy or Privatebet, and longer term crypto777. Maybe allocating among these would be a good balance of risk/reward. I can make a single bundle for you at the standard discount.

‘Tradebots/NXTcoinsco gets 30% the revenues that InstantDEX asset holders get, so from a valuation standpoint it is worth at least 30% of InstantDEX. Additionally it will get monetization from the tradebots leasing that it facilitates, it might even do some trading itself. Other than NXTprivacy I think it is one of the most undervalued. But NXTprivacy is further out, so it is longer term hodl.’

SuperNET Services updates

Jay

Jones is creating a Chrome extension for the next version of Jay. ‘With jay v.2 as a browser plugin, it will allow transactions to be made by clicking on the TX_ codes generated, so making trades quickly will be possible in a web application setting. Working as fast as I can :)’.

Cryptocard

Semi-anon card from Coinomat
Nxt asset ID: 7110939398145553585

Coinomat: ‘The bank we’re working with now is extremely slow, it is killing me. I found another solution, which seems perfect. The old card will work too. The new cards will be active starting from next week. ’

Card loading will cost 1% + $3. ‘The purchase price will be lower than for the old card.
After we launch this, cryptocard asset will be brought back to life. This is a matter of days.’

‘This API expansion has, besides clarity and completeness, another big advantage. Wrapped into an additional client module, it can be used as a tool to teach trading and explain strategies. There are thousands of sites offering online courses/classes, so a good affiliate program is a win/win for all and helps to spread FinHIVE awareness. Just a handful of affiliations would be sufficient because they are multiplicators. And a trader who used these tools could convert into a loyal customer over time. Moreover, since this module contains not only the definitions/visualization (like a TA encyclopedia) but also the current and historic performance (each symbol get its own data profile, containing the performance for all known indicators) compiled from profiles, it goes much further than all other tools at the market. This is just an additional revenue stream by recycling stuff, from other stuff we need anyway, so it makes sense.’

Now I’m wrapping all this stuff, including the new descriptions and previous components, into the final API, starting the performance-statistics and signaling for all TA components on each symbols.’

‘A clever mind will recognize quickly how to utilize, dense and pipe all this stuff here into something meaningful, to shift probabilities into desired direction. The reference client later will make things much easier then. Now it’s only useful for some devs.

‘Besides visualization it will also contain a complete TA encyclopedia and all stats and tools to build trading systems by simple booleans, including backtesting. And some other useful stuff of course. I guess latest when SkyTrade and SkyBot appears, we will gain a decent level of attention.’

James: ‘I don’t think many people realize how powerful InstantDEX+SkyNET will be.’

Pangea Poker

Decentralized Poker
Nxt asset ID: 6883271355794806507

Valarmg writes, ‘The first 90% of software development takes 90% of the time. The last 10% takes the other 90% of the time, according to the main dev. So it feels like we are close to the first playmoney release, but there are lots of small parts to finish off.

‘The only good news about these delays is that the structure of SuperNET has changed into a much more modular architecture in the last few months, so it’s a much better time to try and integrate a project than earlier in the year.’

Freemarket

Decentralized Marketplace
Nxt asset ID: 134138275353332190

A new FreeMarket version 1.4 now available.

Knuckle writes: ‘This is our best version yet. There are a couple of new features to make FreeMarket easier to use: New, separate views for sellers (View Your Active Items, View Your Sold Items, View Your Expired Items, and View Your Pending Sales). We have revamped the Relist feature so that it will only relist the quantity of an expired item that didn’t sell; for example, if you listed 10 of an item, sold 3, and then the item expired with 7 unsold, Relist will put 7 of the item up for sale again.’ Trade at http://nxtfreemarket.com.

SuperNET Core Coins

Bitstar

t3cltd writes, ‘Connecting the ATMs to InstantDEX is the ultimate goal. We are waiting on a number of things, not least of which for InstantDEX to be fully tested and operational in order to then be able to set the ATM real-time trade orders to automatically be handled by InstantDEX. I’m hoping to not have to set them on a centralised exchange process at all.

We’re in one of those situations that could see it all happen in double-quick time once we reach a certain point, or it could remain bogged down in inching forward as elements are put in place. InstantDEX is a critical part of everything both SuperNET is doing and the ATM side of things. It is critical that it be given the attention it needs to test fully and prove itself as the first decentralised trading platform in the industry.

Any revenue that SuperNET earns from the ATMs will come from the transaction fee generated through InstantDEX.

BTCD

BitcoinDark has started a new feature in recent weeks: dividend payments to stakers. This was always a plan for BTCD, with stakers receiving a proportion of revenues from InstantDEX and SuperNET, as well as through inflationary ‘rewards’ (5% each: the 5:5:5 scheme).

Now, the MMBTCD asset (a market-making and mutual fund built on Nxt, that pays out in superBTCD) is paying 10% of weekly revenues directly to stakers. Each week, a call integrated into the core of BTCD creates a list of all recent stakers, then pays them a proportion of the total dividend, depending on how many blocks they staked. Unlike paying stakers in proportion to their stakeweight, this rewards clients who stake 24/7, maintaining the strength of the network. BTCD is the first gen1 currency to include such a feature.

A script written by Btcddev enables anyone to make use of the functionality. Once it has been tested, it will be integrated into the new BTCD client, and ‘that way, BTCD can really be attractive as an asset. Anyone can easily pay divs using btcd’s network for his service.’

‘Anyone who wants to use btcd for a revenue generating service might consider paying dividends to stakers. They keep the network going, and the value of the BTCD (and therefore the service itself) will rise. A case in point is InstantDEX’, writes Btcddev.

Btcddev continues, ‘The getstakers command outputs number of blocks staked, not how much you staked. So if you stake constantly and find 10 blocks in a week, you will receive 10x the payment than if you turned it on for an hour and staked 1 block, even though you staked the same number of BTCD’.

For upcoming dividends, as well as the 10% revenues from MMBTCD, James is donating 100 BTCD (this week only), mivond is donating 10% of revenues from bitcoindarkdice.net.

‘Think about this. Once InstantDEX and other major services begin generating money, a large percentage of the new money supply will be bought as BTCD and paid to stakers, reducing inflation. It would be nice if BTCD bought reached greater than or equal to number of coins staked.’

FIBRE

The Fibre project has released the first game in its series, Fibre SkillShot created with Unity3d technology. Integration of digital currency payments and incentivized tournaments are already in development. Fibre will also be partnering with another game project. More details coming soon.

FibreLock v2 is a new way to secure your wallet guarding against Key Loggers, Mouse loggers and brute force password attacks. It works by combining multiple methods for the wallets passphrase making it near impossible to predict while rendering most malware useless. FibreLock v2 like its previous version will also be integrated into the Bitcoin C wallet as a proof of concept.

FibreTeam has started working on FibreOS 2.0 and hopes to release it soon.

FibreOS 2.0 will utilize a custom, optimized and hardened Ubuntu environment together with full TOR support. Serving as cold storage will include all Core Coins wallets, SuperNET wallet and InstantDEX – SuperNET’s Decentralized Exchange.

FibreOS 2.0 will be delivered with a device which you can take anywhere you go, plug in needed components, stake your coins on it and install anything you need additionally.

PayExpo2015

Nxt enjoyed a solid presence at the conference.

Bas Wisselink (Nxt Foundation) writes, ‘Nxt was one of two booths for crypto, the other being GetCredits. We got some pretty high level attention, for which we are now going to do follow ups. We’ve talked to a lot of people from both the banking and payment industries. They don’t actually hate Bitcoin or crypto, but Bitcoin is definitely not being considered as much as you’d expect’.

‘They have seen the potential of the new technologies. They see more opportunities in newer tech that is built with new ideas, but taking the innovations of bitcoin, and they already know Bitcoin will be obsolete quite soon. And why would one go with obsolete technology?’

‘Uses that people are looking for are primarily secure and auditable ledgers and tokenisation. For the “developed” world, the currency angle doesn’t really strike a chord, but for the “developing” world, the currency side is potentially HUGE. We got a few people wanting to work on that. One of the lessons here is to look for solutions that actually solve a problem for a large demographic’.

TipTap

TipTap is a tipping application. The service is completely free of charge. Forever’.

‘Unlike other tipping services, TipTap uses the Nxt blockchain to facilitate the tipping micro-transactions, thus it doesn’t rely on any centralized ledger. Currently TipTap is compatible with Reddit, Slack and Twitter; 3 of the largest and most used platforms today’.

To get this moving, an official Tipping Fund of more than $2200 (200.000 NXT) is paying weekly prizes to tippers who join @ http://www.wetiptap.com and use the service to spread NXT.

To The Mooooon

NXT ATM in Vienna

Coinimal writes, ‘We have established the world’s first NXT ATM’.

‘The ATM is placed in the ‘Gretel’ café in Vienna’s most popular shopping street, Mariahilfer Strasse. The purchase process takes only a few seconds and after insertion of the desired cash amount into the machine, it automatically sends the equivalent in Bitcoin or NXT to the desired address. The beauty of this ATM is, that we were able to jointly expand the General bytes software so that this machine has the opportunity to issue NXT’.

Hackco.in London Hackaton

The aim of HackCoin is to catalyse investment into the digital currency startup community during the Hackathon Day and beyond (prizes are focused on helping to fund ideas).

The subject in London is Smart Bonds and Digital Identity, and the hackers are going to be working with NXT API. ‘This galactic event will be held on June the 20th in Level 39, Europe’s largest FinTech hub. UP TO twenty of world’s best hackers and developers will gear up and craft their socks off on universe’s most creative Blockchain 2.0 FinTech ideas’, writes crypto scout.

danosphere writes, ‘We’re working with vanbreuk to get SYS into the MGW + Android SuperNET wallets as soon as possible. There are some code updates happening to MGW which James is working on so we’ll be added once that refactoring is completed. Shouldn’t be too long, James is always working.

VPN

BitNet Lottery is the first P2P blockchain Lottery, an open source Fair Lottery.

James writes, ‘When i finish with the urgently needed code for SuperNET in general, I will spend time to get VPNcoin properly integrated into SuperNET. ]I think the decentralized load balancers could become a pathway for the windows VPN services provided by VPNcoin’.

‘Everything started to be built on the 5th of May and was presented and demo working on the 20th of May. With all the media that is looming around it I need to close it in Greece with government or private association. We already have one assocation interested in taking drachmaeconnect as a business barter network.’ The project has potentially huge significance. ‘It’s not just about Greece. Greece is the test dummy of what will happen to Italy, Spain, Portugal… I am arguing with the EU Commission over drachmae as they don’t like the idea – this could be a solution.

Damelon writes, ‘This project, even when not viable, has generated more high level attention than 4 months of articles on things like CoinTelegraph. It gets people talking and that for me is its most important function.’

SNRN

Lottery‘Anyone holding 50 SNRN asset will be entered into the lottery for 1/2 ounce silver (starting next month… maybe this month…), 500 will be entered in to win the 1 ounce supernet coin, 5000….. will be a surprise (3-6 months away). Thank you for your support.’ Nxt asset ID: 3501237268087927815

BTCOR

BTCOR Group Investment supports SuperNET in alignment with a profit-for-change paradigm, and it’s the first NXT asset to utilize Nxt’s revolutionary Monetary System technology and Asset Exchange to generate dividends on stored wealth. BTCOR and its SERIES VENTURE wealth storage facilities allow for holding/storing value in the form of ASSETS, GOLD, SILVER, BITCOIN and the US DOLLAR.

BTCOR is the parent asset and is the simplest choice for investment. Funds received through sales of the BTCOR asset will be used to appreciate value for shareholders by investing primarily in SuperNET’s technology, core coins, and assets and by seizing any other opportunities the Executive Board may deem advantageous. Any dividends received by assets held in the BTCOR Treasury will be redistributed proportionately to BTCOR shareholders on a monthly basis.

Altnuts Mining Pool

If you want to mine SuperNET Core coins, this is a place to go. AltNuts V2 charges 0% Fees.

Coins that are accepted into the SuperNET, also known as ‘Core Coins’ represent some of the most promising innovations in blockchain technology available today. The SuperNET Multipool, brought to you by AltNuts – has been created as a way to mine currencies from within the SuperNET that aren’t traditionally minable. You can connect directly to the multipool with your ASIC or GPU miner and be paid in the SuperNET coin of your choice.

James has been in deep coding mode, resulting in a total reconstruction of the SuperNET CORE, improvement of the distributed Multigateway (MGW), and some new SuperNET tech. Meanwhile, the rest of the decentralised dev teams/coins and services in SuperNET has been busy as well. This newsletter will give you an update on James’ work, the CORE coins and services. As you can see, SuperNET progress hasn’t slowed down at all! Dive in 🙂 SuperNET Slack can be joined by sending a request to: info@supernet.org.

Topics

Syscoin joins SuperNET

SuperNET Clients

Litewallet

Litewallet review

Full client release

SN enhanced NRS release

SuperNET Android Client release

CORE code update

Agents

Lchains

MGW

InstantDEX

crypto777

SuperNET Projects

SuperNET Blog

JayEX

NxtVault

NeoDICE released

NeoDICE Jay Client

Fast withdrawals on AE

Pangea

Freemarket

Coinimal

Coinomat

SkyNET is live

SNRN

SNRN asset

JLH (jl777HODL)

SuperNET CORE coins

BTCD

BitStar

VeriCoin

Nxt

SysCoin

OPAL

Fibre

VPNcoin

SYSCOIN joins SuperNET

‘Syscoin devs are working on exposing its features via user friendly interfaces. ‘The big release for that is 1.6 (http://syscoin.org/roadmap) which introduces a new wallet that brings everything front and center. Certificates, data-store/aliases are [already] on the blockchain and working, however they don’t have a UI in the wallet yet so it is all command-based (for now). When we roll out our V2 wallet which will be much easier to build upon than QT, we will begin rolling out each feature in the wallet through continued development’, writes Sebastien.

Syscoin brings a talented and established team of developers to the SuperNET table. One of the interesting features will be their decentralised market – the Blockmarket. Its Beta GitHub repository is public, and you can set up your own Blockmarket on their testnet: https://github.com/syscoin/blockmarket.

CORE code update

James writes:

‘If you are following my github, you will see the progress everyday. I am getting more and more functionality with less and less code, this is what happens toward the end. I also had to take some time out to solve the blockchain bloat problem. Lchain (the evolution of Ramchains). Testing is going well. Then realtime MGW via decentralized load balancer. All is in the new “plugin” system, which is more like cooperative agents. The new agents’ system will let people easily become a publisher. It is quite a general solution, beyond pure crypto.’

‘I originally estimated about 6 months to complete my tech, but the extra time needed to accommodate feedback from what has become a much bigger community has made this longer.

However I doubt it will be double, as there are many who are now helping me directly. Anyway, this is pretty tricky code and I don’t want to do a bitshares and push something out before it should be.

I am well aware of the ticking clock and I am focused on getting InstantDEX out, but need MGW stable and fast first. My recent release of the fault tolerant comms relays should solve all the network connectivity and reliability issues. The modular agents’ system solves the exponential increase in complexity of the overall project. These are things I didn’t foresee and reliable decentralized networking is not as easy as it sounds.

Also the bitcoin protocol is, …., there are just no words. I just want to find the unspent balance for multisig address but to do that I have to basically reimplement most of the bitcoin code.

I pushed ramchains that allows rewiding to any block and it will recreate the exact blockchain state as of that block. I don’t know of anything else that lets you set a block number in the past and then calculate the rich list (and all available unspents). Not really a must have use case, but this ability just came for free as a result of my now having totally mastered the bitcoin blockchain.

Now I will take a little break and can push the MGW to the finish line. ‘

SuperNET Agents

SuperNET is now a BTCD plugin, or an “agent”.

James writes: ‘I run the host code inside BTCD, and SuperNET plugs into it. Then other software agents can plug into SuperNET. Each agent can broadcast locally, or globally.

The core set of agents

I split out all the major [SuperNET] components. There is a relays’ agent, a peers’ agent that deals with the broadcasting to all the peers, a coins’ agent that can talk to any gen1 coin, a database agent that does some pretty intense multilevel caching and data packing, the MGW agent, the ramchain agent, a subscriptions agent that manages subscriptions (still very early for this one). Teleport will be a comms agent, I think a chat agent [for InstantDEX] is a matter of a day’s work. I have 12 working agents now. ‘

Anybody will be able to make a SuperNET agent

‘With 100 lines of code, you can make a new agent, publish its availability to the relays, and start selling subscriptions or whatever. I have it so each agent has three sets of methods: public, normal, authenticated – so you can have methods that can be accessed by anyone, or just on local machine, or needing authentication.

The following [languages] are supported currently: C, C++, Clojure, D, Dylan, Erlang, Fortran, Go, Haskell, Haxe, Java, JavaScript (Node.js), Lua, .NET, Ocaml, Perl, PHP, PicoLisp, Python, R, Ruby, Rust. I think that is enough for allowing most anybody to make SuperNET agents. The task for an agent is to create a set of API that it implements, and it is able to use any SuperNET API that is existing already. It is a freeform JSON transport layer, so any sort of protocol can be built on top of this. By converting JSON inputs into JSON outputs, your agent will be completely connected to all the other agents. plugins.h and the plugins directory from https://github.com/jl777/btcd/tree/master/libjl777/plugins has a relatively organized set of functions.

What’s in it for the end-user?

It will be possible to make a drag and drop GUI where you can connect up the different modules and end up with a fully customized working crypto solution. Want anon? Add an anon agent. Want a blockchain? Add the blockchain agent. Want to support assets, add the asset agent. Want atomic cross chain trades? Add that agent.

What this also means is that we get dynamically loadable command sets for non-built in agents, you can automatically make a websockets interface that has a text debug HTML page too.

James writes: ‘Ramchains went a bit too far for max performance, so I made some tradeoffs to reduce resource usage, and added a lot more useful data to Lchain. Having a super high performance DB system has allowed me to accept making some DB calls for less frequent things. I added a ram cache on top of the fastest key/value store DB system, but it is more than just a cache as I have arranged the data to map to consecutive indices, so I can have a packed array that is synchronized to the HDD via DB calls at regular intervals.’

‘Lchains solves the problem of blockchain bloat. The BTC blockchain is growing exponentially, so soon people won’t be able to run it locally, but with Lchain, it will only grow linearly, so people’s HDD will keep pace. It is like a train in the movies, the one that is speeding toward the edge of the cliff but there is no bridge. Lchain is the bridge that will allow for continued use of bitcoin on people’s computers. The ledger file for BTCD at 220K blocks is 1MB – of course you still need some support files, but actually you can get the info for the support files from the relays. Still need to have archival nodes to keep a copy of the full blockchain, to be used for verification of the Lchain.’

MGW

‘The legacy MGW is running code that is 1 year old!
That is very old code and there really only has been one bug.

The problem with MGW uptime has been that all three [servers] had to be in 100% sync at all times. Now this is no longer the case, yet we still get the same redundancy, actually more.

Lchain addresses the problem of slow startup and peer validation.

The Lchain is a data provider to the MGW servers. The MGW function only needs access to the Lchain servers + up to date blockchain locally, then it queries the Lchain, verifies locally and signs, gets consensus, submits. So you can have 10 computers with Lchain to make sure 3+ are available 100% of the time. Now an Lchain server can go offline, but MGW is still running. If all the Lchains are in agreement, that is good enough for MGW to verify locally, so there are actually additional safety checks with this separation of function.

Another problem was connectivity. The MGW servers lose connection with each other once every few days and need to be kick started, and then the startup time makes it go offline for a bit. The startup time is MUCH improved, but for MGW it won’t even matter as it is the Lchain that takes time to startup. MGW startup will be pretty instant. Faster and more reliable, so this removes the need for restarting due to comms problems (assuming it is indeed more reliable) and downtime due to restarting the ramchain. Now I just have to port the existing code to use the Lchain, but most of the code isn’t needed anymore since Lchain does most everything that is needed.’

Coin confirmation time: + 10 seconds.

In other news, James also writes: ‘I got a test release out for BTC realtime MGW. ‘ It’s happening.

InstantDEX

There have been questions about when InstantDEX will finally be out of testing and available in beta, and for general use. Cryptosleuth writes: ‘there are only some small things to fix in the GUI but it is functional. Been focused on API testing, and then will need feedback on what people want changed in GUI.’

Eth writes that the website will be up shortly, but that there are too many variables in play to give an accurate answer about a launch for SuperNET’s distributed real-time trading engine, itself: ‘ “Tuesday” is the best you will get for now, but API is looking great. Also, I have been lucky enough to fiddle with the SkyNET API, I can just say that I am impressed.’ SkyNET will have an important role in InstantDEX.

Essentially, InstantDEX’s ‘punch-through’ trading will mean that it is possible to conduct a trade that spans several exchanges. InstantDEX knows about MGW coin assets being 1:1 to native crypto, and it uses this to calculate virtual prices across all exchanges. Once the communication with InstantDEX is set up, other exchanges’ liquidity are added to the InstantDEX orderbook. Perhaps you want to buy OPAL in return for NXT. Poloniex has the best OPAL <> BTC rate, and InstantDEX has the best NXT <> BTC rate. Putting the two together in the background enables users of InstantDEX to gain the best spreads across exchanges.

Crypto777

Updates will be posted in SuperNET Slack channel #crypto777
The crypto777 protocol is described in http://test.nxter.org/supernet-newsletter-16/

The purpose of crypto777 is to fully decentralize realtime backed and pegged crypto.

James writes: ‘It will have a built-in way to generate fees, via blockchain. I am working with Consensus Research who will be doing the whitepaper and modeling. These fees will be assetized and I will be issuing an asset within a few weeks. Preference will be given to purchases made via BTCD but I need to finish InstantDEX first as I will use it to create the orderbooks for the sales directly in BTCD.

‘Now the actual backed and pegged cryptos are “hard” assets, so I can’t give out dividends in those. The asset is based on the sum of all the fees from all the backed and pegged assets that will be created. There will be a price ladder so early birds get a discount, but as the whitepaper is released and the tech matures, the price will be raised at the milestones.

SuperNET projects

SuperNET Blog

eth writes: ‘We have started an official blog for SuperNET, you guys can read it in:http://supernet.org/blog. The main objective is to create a communication point where information will flow in a friendly, mostly continuous way to keep all the users, community members, investors and everyone else interested about SuperNET up to date regarding advancements in development. The blog will be limited to allow posts from the core team only, but of course if you or whoever else feel that it could be reworded to improve comprehension or in any other aspect, everyone is really welcome to do so and distribute it.

We are aware that we have not been very communicative lately regarding the progress of the different services we are developing, and that is a big mistake, since we feel some people are losing a bit of faith, mostly caused by this lack of communication. Entirely our fault, so we are here to fix it.’

JayEX

The Jay Client and Framework was released about a month ago.
Further details (and videos) can be found in SuperNET Newsletter #16.

Until recently there has only been Jay Wallet ( http://jnxt.org/wallet) to use to test Jay, and Jay can do so much more than this. Jones has now released the AE side of JayEX, allowing for ‘Nxt AE trading with the security of the localhost NRS client, the inspiration of SecureAE, and the chart ideas and layout idea from Poloniex. I’d call it officially beta now’, Jones writes.

‘My hope is that Jay Version 2 will be released around the time that Nxt 1.5 hard fork occurs, but there is much to do’. Jay v2 will support currently released SuperNET features. http://jnxt.org/nxt just has the original for now, I’ll need to check what tx types are needed for the supernet agents, jay integrated NRS with SN agents. Could work pretty easily.’

doppelganger follows up: ‘We had to change core architecture of the project, for example switch from NoSQL to relational database. We believe major bugs are sorted out, so we decided to initiate testing on the main chain. Next development target after core system is a SuperNET agent, to simplify game experience. We have there mostly UI minor bugs [which needs to be fixed], no majors, no blockers.’

Note that a transaction fee of 1 NXT goes to the network on every bet or chip swap.

Jones writes: ‘I am going to marathon a neodice-jay web client, then move on to Jay v.2 work after that. Because jay has the advantage of being online, I can add some more features, like a chat box and backend processing.’

Fast withdrawals on AE

Also James chips in: ‘I think during the testing period the withdraw times are intentionally set to be very long (720 blocks). But we can just put a buywall for fast cashout, so that people who want to convert to NXT right away can just do it from AE.

I’ve put up a buywall on AE so to redeem, just sell into the buywall.’

Pangea

‘The software developer is working according to schedule to finish the playmoney version by the end of May’, writes 5000Bitcoins. It is estimated that the real version will be live and integrated with SN 1-2 months after that.

Freemarket

New features:

Live NXT to USD/EUR conversion calculator

Instant viewing of NXT price equivalents in USD and Euros

Price equivalents’ update along with shipping options and quantity changes

Send NXT to another account directly from within FreeMarket

Buy/Sell NXT for BTC, BTCD, or LTC from within FreeMarket using ShapeShift

Menu bar notification of your pending sales if you are logged in

List multiple quantities for the same item, for the same low listing fee

You now have two durations to choose from: 2 week or 4 week duration

Image enlargement: Click on any image to zoom in. Animated GIFs are supported

Coinimal

Coinomat

‘We will be carrying out deeper integration of First Swiss card in Coinomat. The whole process will be at Coinomat, including card ordering, and card loading will be instant. We are integrating the bank API now, the bank had doubts over this, but now all is settled.

This week it should be complete. No public info for a couple of days longer, we’re rebranding it so it is completely white label. After that we will start promoting the card and pay cryptocard dividends. Sorry for the delays but it’s not really our fault indeed.’

‘Guys, if you’re in Europe I’d like to remind you that we offer very cheap crypto buying and selling options by SEPA. It’s protected against volatility. USD is credited first and then you buy coins. Coins are sold at 0% to current open market rates.’, writes Coinomat.

SkyNET

Nexern writes, ‘You can query data and indicators now.
The API is growing hourly atm and the first 100 indicator specs are ready tonight.

The current silence means I am coding heavily. Here is a quick overview on what I am working [on] atm: http://finhive.com/download/web_quicklist_indi.txt

The now designed API is input data agnostic, [which] means it acts also as a very extensive financial math/analytics gateways where users can query the whole API functions with their own time series (via json POST). This adds an additional revenue stream for users who prefer to analyse their own data.

Another good thing is that I have also finished the missing math bindings and intend to look into a R binding next weekend. This would add additional, valuable finance logic like risk management, portfolio handling, quants and many other very usable stuff to the framework but this is optional and not a must have at current stage, completing the actual API modules is paramount now.

You can see an indicators API spec (ind_sma) proto here:
http://api.finhive.com/v1.0/run.cgi?section=crypto&run=api, it includes also naming, descriptions, signaling interpretation and more, shared by the TA encyclopedia ( “sec_knowledge”: [] ) later.

Moreover, ‘last regression tests on the custom TA lib [are] successfully done. All +300 indicators returning correct and cross-checked result sets. The lib (optimized, plain C) is pretty fast and lean (185kb, nix shared with ~8k loc.) and presents an important skynet asset (simply because it is the most actual and complete TA lib on the market from my pov) besides the data collected so far. The server side LuaJIT lib binding (serving the JSON API) is also working as expected and reaches ~80% of native C speed. This speed was/is crucial and not pedantic because the API supports pre-calculated, and more important, dynamic (on request) data creation. Well, nuff said about the tech for a while’.

SNRN

SuperNET Radio icon Kevondo has left the building. Lootz writes, ‘New talent is being recruited and interviewed regularly for a new host for chillax hour. Once we hit a larger audience I have many giveaways such an SuperNET Pure silver coins to give away, so stay tuned.’

SNRN is looking for a short article writer to write reviews on the shows. Compensation paid on a per article basis. If you operate a site and would like a banner put on supernetradio.com, contact lootz. SuperNET Radio is now broadcasting its stream through all of icecast and shoutcast communities. This means that all shows are now broadcasted to a lot more people.

‘We plan on having A LOT more content coming up, so the music will not be so prominent, but at the moment – here’s what’s goin’ on. All day we have a mixed bag. Pop, rock, old, new. Hard (no screaming), Soft. It’s a decent work mix. And right now as we’re in our “transitional” period, replays of past talk shows will play around 1 PST/4 EST Mon-Fri. Every Night at 8 PST/11 EST, electronic music starts for sweet dreams. Then, Wednesdays and Fridays are Hip-Hop nights starting at 5 PST/8 EST. And finally, Sunday is a slow day, we have Trip-Hop/Downtempo starting at 9AM until Classical starts at 5PM. Also, on the weekends we have Super Security Saturday, and Coin of the Week on Sunday as well.’

‘SuperNET Radio is now open to all Core Coins and Supernet related assets. If you want to showcase, explain your tech, basically any word you want to get out it, is now open and FREE. Let’s get people to understand SuperNET and all its parts on voice packets. Contact me with details and we will make it happen. I want this to be truly SuperNET’s Radio Station, and believe this will be a good direction for our community. DM lootz.’

SNRN asset

SNRN (asset ID 3501237268087927815) will be released monthly in small portions. ‘Revenue from ads/sponsors will go to holders as dividends. Also any 1 company, technology, venture, who holds 20% will have free advertising on the station 24/7 played 12 times a day and in our shows that get many replays by multiple communities, as I keep inserting SuperNET Radio into different communities. We have 27 websites broadcasting atm, and will continue to grow’, writes lootz. So if you like what SNRN does, instead of a donation, just get some SNRN, maybe one day SNRN can say thank you with dividends.

JLH (jl777HODL)

The heavy discount at which JLH (asset ID 6932037131189568014) is trading on its NAV will shrink in due course.

As announced by James about a month ago: ‘Please don’t be surprised or complain. My goal is to lower spreads across the board, target of 1% to 2%, but it needs to be done gradually unless market conditions change. So it is a multidimensional mapping issue where all the related assets are linked via adaptive bots. The natural consequence of this will be price moving in harmonic oscillations similar to the forex currencies. I make simple arbitrages, constrained by liquidity of the other assets, but as spreads narrow across the board, liquidity will increase, allowing more arbitrages. Iterate…’

Bots will not be deployed yet, but James has now put up some small buy walls at ~10% below NAV.

James writes: ‘JLH really should be trading at some sort of premium, but the liquidity problems has made something that nearly quadrupled in NAV in less than a year and tripled in price, to somehow be a significant discount to NAV asset. In the real world, anything that is quadrupling in a year will most likely not be at any discount!

Now there is no gauging how much more stuff I will add into JLH over the next months and years, so let us set the value of that at zero. Still even with this santa claus valuation, the NAV really should be the floor, so I will make that happen with buywalls.

Over the weeks, I will gradually raise this [~10% below NAV) closer and closer to NAV. If it ever starts trading at a premium to NAV, the reverse process will be used to get it back to NAV. What this means is that JLH will end up trading around the NAV on a long term basis.

I realized it is easy to get the funds required to put up buywalls, just by selling small bits, if funds are needed. With almost half a million NXT in the acct now, it won’t be necessary to make any sales. This method is a much better use of funds than dividends or lotteries. When I get a chance I will automate it, until then it will be an occasional thing, whenever I get a chance.’

SuperNET CORE coins

BTCD

BitcoinDark development has been ongoing behind the scenes and we are now approaching a time when that development will begin to bear fruit. One of the new developments includes a new HTML-local-host Wallet GUI to replace the old QT version.

I’d like to announce that with the donation funds the community has raised so far we have been able to hire Onsightit, VRC’s GUI and Cross-Platform Developer, to help primarily with the back-end of the new BTCD HTML-localhost Wallet GUI. Getting talented developers on board is important to meeting our goals so please keep those donations coming!

Support BitcoinDark development

Send your donations to the following Official BTCD Donation Address:
RDtnnLj5LQ8YMxBJbHX1N4jNKeaC67FLGW
or you can donate BTC using the Official Multisig Donation Address:
36vQrrrjT1A8X3s56fdfkYzWzMgjSWhTWY

MMBTCD

The MMBTCD asset is live. Nxt AE asset ID: 8122396658538927693

The aim of this asset is to increase liquidity for BTCD and place gentle upward pressure on it. Coinomat has done great work with the MMNXT asset. BTCD has much lower volumes and thinner order books, so we’re taking a mutual fund as well as market-maker approach. Hopefully using revenues from other assets will inject some liquidity and give us something to work with. Coinomat has very generously donated 100,000 coinomat assets to MMBTCD.

Due to migration to new SuperNET servers, the Asset ID for the active mgwBTCD asset has changed. You can send your old mgwBTCD assets (ID 11060861818140490423) to the special redeem account NXT-6YQW-HHCG-NATW-DCHJ3. Soon you will receive the same amount of the new superBTCD (asset ID 6918149200730574743).

Bitstar has now moved from 35% a year stake reward to 25%, writes BitstarDev.

VeriCoin

VeryVeriViral writes, ‘VeriCoin’s new “Proof-of-Stake Time” protocol testing is now done. Proof-of-Stake-Time Wallet 1.6 released! You can now download the new 1.6 wallet by going to help “Check for update” or downloading at the website: http://www.vericoin.info/
-PoST will become active after block 608,000. Biggest PoS change since Nxt.’

‘Well we’re just trying to make some great tech. The funny thing is… PoST is just the foundation. I mean it’s legit and all… but we have other things coming too. We’ve realized the importance of the Anon crowd. We’re going to deliver something that is pretty cool in that regard. (It would replace our currently “centralized” VeriSend feature.)’

danosphere writes, ‘We’re working on exposing features via user friendly interfaces. The big release for that is 1.6 (http://syscoin.org/roadmap) which introduces a whole new wallet that brings everything front and center.

FIBRE

FibreLock 2.0 will soon be submitted for peer review! Once all the devs taking part have provided their feedback and the changes have been made, we will release the open source code for FibreLock 2.0. After the code has been open source for a while and audited by the community, we will release Fibre and Bitcoin wallets including the new and improved FibreLock. The source code will be available so any coin will be able to implement FibreLock.

ZeroTrust + FibreOS

ozboom writes, ‘ZeroTrust (ZT) is being audited for release (decentralized and trustless transaction mixer, never been done before), FibreOS is coming with its own device (Ubuntu derived, super hardened Linux distro for safely keeping your wallet on a USB stick) and holds incredible promise imho’. Sigwo will be the official US distributor of the FibreOS Device. All SuperNET Core coins will be available on this device, Blitz wallet will also be included.

Killakem, Fibrecoin founder, has taken the lead on Blitz (formerly known as Ocupy).
Blitz and Fibre are separate projects.

mxxxxx writes: ‘Thanks to involvement of Killakem bigger Fibre investors are enabled to receive revenues from Bitalize ventures. Fibre will have FibreNodes, Blitz will have BlitzNodes but they will share the same pool of revenues. 40% of all revenues generated by platform and services running on it will be shared amongst NodeHolders – they get 60% of it (and receive additionally fees from transactions), smaller holders of 15k of Blitz will get 40% and no fees from transactions.’

The holding requirement for running a FibreNode in the BDN Network will be 15k Fibre. This will ensure that the number of FibreNodes in the BDN does not saturate the revenue share. This model is setup for the investor, as we do not profit unless we deliver and make this a successful project’, writes Killakem. ‘We have many ideas and concepts flying around but we have implemented the same release system that Fibre uses: “Don’t mention any tech until we are 100% sure we can deliver”. It has worked really well for Fibre! Hence we have received no FUD and you would struggle to find someone with a negative view of us.’

Syscoin is a scryptmined 2nd generation PoW altcoin, launched on August 16 2014.
Syscoin brings a proven and dedicated dev team, as well as innovative features such as:

Aliases

Syscoin aliases let you replace your coin address with an easy to remember string of characters. Aliases have an expiration date of about a month, after which they must be renewed. Syscoin “data aliases” let you use syscoin’s blockchain as a distributed datastore to store up to 250kb of content which is provably owned and controlled by you. You can also send your data aliases to others on the Syscoin network, thereby making clearly auditable transfers of control of digital data.

Certificate issuance

Syscoin’s certificate issuance service will allow anyone to become a uniquely identifiable certificate issuer and send uniquely identifiable digital certificates to anyone on the syscoin network. Since the issuance and transfer of certificates, titles, invoices, and receipts is foundational to the operation of business and commerce, the business use cases are numerous.

Decentralized Marketplace

Sebastien (Syscoin marketing) writes:

The marketplace is on the blockchain, the wallet allows you to enter purchase via the web UI (called the blockmarket). You go to the website, click purchase, enter details and then it opens your wallet, puts the GUID in directly, you pay and the transaction is done directly on the blockchain.

The blockmarket code will be public so anyone can build upon that to create their own marketplace fairly easily (will get easier and easier with community involvement). It’s all on testnet right now so once we release the code we will give detailed docs on how to set up the blockmarket/make offers, etc. So people will be able to test it and thereby helping to get it ready for public release on the Syscoin mainnet.

Block reward: 1024 SysCoin and regenerated network services fees (block reward halves every 131.4k blocks for a total of 10 times, whereupon rewards will then consist exclusively of SysCoin service and network fees).

Multipool protection: SysCoin uses KGW to retarget difficulty every block. SysCoin uses extremely small minimum and maximum values as algorithmic inputs, which effectively allows Syscoin’s difficulty to re-target much more rapidly and accurately than other cryptocurrencies that use KGW.

Learn more about Syscoin and the SuperNET partnership:
SuperNET Radio interview with the Syscoin developers @ http://supernetradio.com

What is the N&S BBQ Festival?

The BBQ Festival is a special event being planned for the Nxt and SuperNET communities. Its success will depend not just on the number of people attending but also on its potential to create new opportunities for Nxt and SuperNET. The event program is still being finalised. For the moment, the important news is:

The Festival will take place in Neuchâtel, Switzerland from Thursday 30 July to Sunday 2 August. 30th and 31st July are business days; 1st and 2nd August are community days.

Inexpensive accommodation (29th July-3rd August), to include all meals, will be provided.

The big Barbecue Party will be held in the evening of Saturday, 1st August.

The event program will follow the 4 big goals of the BBQ Festival (see below).

We are currently organising a crowdfunding campaign to determine the level of interest in the community and therefore the likely size of the event.

Please note: the event will be open to Bitcoin and other crypto communities/ventures. Especially the business days. But, as the Festival’s name suggests, the main focus will be on Nxt and SuperNET.

What are the goals of the BBQ Festival?

Some fun for the community

First and foremost it’s all about having fun. Barbecue = Conviviality! and Conviviality, as we all know, needs Beer! This is Summer, we are on the lake side, let’s have some fun.

The most fun-filled part of the weekend (at least officially!) will be Saturday night (1st August). It’s not only the Nxt special BBQ, it’s also the national day of Switzerland: so, get ready to enjoy a free Fireworks’ Display onLake Neuchâtel.

Visibility in the Swiss Economy and Social/Print Medias

Over the course of the Festival, I’ll be trying to gain as much exposure in Switzerland as possible for Nxt and SuperNET, especially on the Thursday and Friday (30/31 July) including: a press conference, a public presentation in the University and a meeting with Swiss businesses (all currently work in progress).

I’m already in contact with some local organisations to organize something cool. But there will need to be more than just 5 people attending the event for it to be credible.

Building the Nxt ecosystem and developing the tools

During the community days (Saturday/Sunday, 1/2 August) we will have fun/drinks/meat/vegetarian food but we’ll also be building Nxt as well. To that end, I’ll be organizing some workshops and also some lighter-hearted mini events, including a ‘hackathon’.

If you want to organise something in connection with the Event involving the use of Nxt and/or SuperNET features, please contact me as soon as possible.

Using the Nxt and SuperNET features

The Event itself is an IRL showcase for the Nxt features. We want to integrate as many Nxt and SuperNET features as possible in the Event’s organisation:

MSCoin (for the payment)

Asset

Marketplace

Voting system

Using SuperNET and the Multigateway, you can pay with any of the SN core currencies.

Who am I?

I’m Lionel Jeannerat, I live in Neuchâtel and I’m a freelance entrepreneur (http://www.valeurdhistoire.ch/). I’m known as Ludom in the Nxt and SuperNET community.

I’ve been involved in the Nxt community since December 2013 and I’m an early investor in SuperNET. My reputation is good and I’m a respected member in the French community. I’m also the administrator of the NXTER.ORG magazine.

I have some experience in event organisation: Festivals and Fiestas (Ludesco, Erasmus Students Network, etc.).

What is this crowdfunding campaign?

Participation and timing

The crowdfunding campaign begins 16th April and ends 6th May.

To subscribe:

Buy “Rewards” (as in Kickstarter) at our shop on Nxt Marketplace.

Send a bank wire (SEPA) to one or other of our two bank accounts, as detailed below (together with a message stating which category of rewards you’re buying – see below – and specifying the Nxt address to receive the BBQCH and/or Assets).

Please note: those who support us by very generously buying a VIP token will get a Surprise Extra Benefit during the festival.

TBH, it’s still a surprise to us as well as we don’t yet have any ideas what it should be; so, by investing in a VIP token you’ll effectively be challenging us to come up with something extra special for you!

IMPORTANT: Our estimates of the reward values are just that: estimates. The value of the little/medium/superNXTERs rewards are purely the corresponding amounts of BBQCH specified above, nothing else.

If the accommodation is more expensive than our estimates, you will have to pay the difference, but if it’s cheaper you’ll save some BBQCH for the weekend drinks. Wooooh!!!

First goal

The first goal of the crowdfunding is to reach the equivalent of 3000 CHF (~300’000 NXT). It is the equivalent of 10 people attending the event for 2 days.

If we don’t reach the first goal, we’ll cancel the BBQ Festival and instead I’ll organise a simple BBQ in my garden as I did last year.

Stretch goals

The BBQ Festival itself is just one of our crowdfunding goals: we also want to finance new Open Source tools for the Nxt community (useful of course for the BBQ Festival but also for other Nxt Ventures and events). These further goals are:

Can I be a special partner or support the Event in any other way?

We are interested in any joint venture proposals. Let’s help each other!

Let me know if you can personally help organise/run the event or if you’d like to invest or get involved in a joint venture of any kind involving the event.

The organisation begins and everything is still up for discussion.

Contact me ludom@test.nxter.org or on SuperNET slack.

So, what exactly are BBQCH and PVHevents?

Monetary system coin: BBQCH

The BBQCH is the currency of the Festival. You can use it as a coin.

The type of the MScoin is exchangeable and it doesn’t have any decimal places.

During the BBQ festival, you can use it to pay for:

Registration fees for the event

Accommodation

Food

Drinks

And more…

The value of BBQCH is backed by Swiss Francs (CHF).

10 BBQCH = 1 CHF

Asset: PVHevents

The PVHevents assets will be part of the “BBQ Festival” venture. After the festival, the benefit will be distributed to the assetholders.

The asset ID is 16374615450544227361

You can buy this asset during the crowdfunding campaign by becoming one of the 20 Supporter-Investors. A further 3 tranches of 1,000 PVHevents assets will be made available, at the same price of 7.5 CHF/asset, for those specified below to buy privately.

IMPORTANT:The goal of the BBQ Festival is not to make a big profit. It could even make a loss. So, if you invest in PVHevents treat it, in effect, as making a “donation”, and regard any profit as being a “nice surprise”.

Price 7.5 CHF/asset:

Price 10 CHF/asset:

5000 reserve for more Investment if needed.

Who decides?

The organisers of the event (Ludom and maybe other people too) will be responsible for everything to do with its organisation.

But it’s possible that that some decisions can be taken by the community (choosing music groups, collective accommodation solutions, drinks). As appropriate, we’ll organise a decentralized vote on Nxt based on the MScoin BBQCH.

The PVHevents assetholders will decide after the BBQ Festival if we should distribute all the funds (Bank account and Nxt account) or if we should hold some funds back in reserve to fund a new event.

Can I be scammed?

Transparency is a big part of the project. We’ll publish the bookkeeping based on the Bank account and the Nxt account.

If the project fails and the BBQ Festival therefore doesn’t happen, I’ll repay everybody as follows:

Pay back the VIP buyers in full;

Buy back the BBQCH at a fix price (average of the selling price)

Refund the PVHevents assetholders as much as I can.

How can we be contacted?

You can contact us by email (ludom@test.nxter.org) or on the Nxtforum topic.

As always, lots of exciting news to tell you about. InstantDEX is nearing beta launch, and James has not only been debugging but also beefing up SuperNET security and developing his Ramchain-coin idea further. SkyNET will soon be ready, filesharing has been added to the SuperNET Client, an asset dividend has been released, and more are in the pipeline.

InstantDEX beta

Testing and debugging is ongoing. 99% API is done. James pushed a version today that passed his internal tests for everything except combined orderbooks. Latest version supports hybrid trade clearing, and assuming this works, then automatch is the only major feature left still to do, along with historical stats.

eth and cryptosleuth are working on a GUI for the decentralized exchange:

Jay v.1

Jay lite client and framework has been released.

A downloadable html file handles your security, encrypts all password data locally and acts as a buffer between your computer and potentially unsafe web services. This way you can use all features safely and easily.

Jones writes:

It can do all Nxt transaction types, and after v.2 all SuperNET transactions.

Jay client v.1

The Client is based on the Jay Framework:

Jay Framework

The jay.js library provides all the basic functions required to create applications that interface with Nxt and the Jay Client. Basic Javascript is now all that you need to be a wallet developer!

James writes: ‘Jay will generate revenues via deals similar to the one it made with InstantDEX, eg. a percentage share of the fees generated. 20% of InstantDEX fees will be around 1 NXT per trade (if both sides use Jay). The initial release does not support InstantDEX yet, so revenues will have to wait until then. I would assume a significant amount of the revenues will be dividended out as the Jay framework has no direct server infrastructure costs.‘

It was announced in the last SuperNET Newsletter, that the Jay dividend would be released when less than 8,161 SuperNET assets were left in BTER. However, the trigger was not met before Jay got launched, and as James wrote: ‘if Jay is actually in production, then we can make asset release, but then no complaints about dividends that would get stuck in BTER.’ !

MGW asset update

James writes: ‘MGW will get at least the 5% revshare from InstantDEX, so this makes its cashflow value at least 10% of InstantDEX. It will also be able to make some fees from deposit/withdraw/autoconversions, but until we are in the slow user growth phase, it is best to keep fees minimal to maximize the userbase.

MGW [asset ID 10524562908394749924] has some server costs to pay for, but it should trade probably ~8% of InstantDEX. As volumes go up, the 8% will approach 10% since the operating costs will become a smaller and smaller percentage.’

MyNxt releases MGW plugin

The plugin is free to install and enables users to easily tap into the power of the SuperNET MGW Distributed Exchange through the MyNxt webwallet. This will make it possible to exchange Multigateway coins, like NXT for Bitcoins, with simplicity and minimum risk.

MyNXT does not store any coins but uses the MGW service to convert them to mgwCoins as well as send them to your desired destination.

Fumanchu (SNN) writes: We are waiting until Summer to move out of soft launch, so don’t expect much from SNN until then. Currently I’m pitching the platform to established publishers to link in or provide resources for the network. So the front end seems dormant but things are actually cooking behind the scenes.’

I believe I improved on BCNext’s TF, at least I have a method to practically do thousands of tx per block, with a very fast blocktime, but this is still “theoretical”. Once the older projects go into maintenance mode, I will have time to experiment.

I put together a little proof of concept ramchain coin, [which] uses authenticated nonces, two stage encryption (arithmetic coder + OTP) and blocktimes fast enough for poker. This is also the same method I will [use to] enhance the security level for the SuperNET, but it’s nice to have an entire coin codebase that I wrote (with plenty of advices from CfB) in ~1500 lines of C.

The crypto777 “coin” (I think I will name it CLOCK as the blocks come out like clockwork) is a framework to add a decentralized consensus onto anything, eg. Pangea chips, but I am also investigating BTCD sidechains as it makes no sense to release yet another coin when you can enhance an existing one.

CLOCK supports the concept of a ledger, which is simply a balance tied to an account and there are transactions that modify the ledger. I use 48 byte signature and 32 bytes for simple tx, but all the tx handling I would prefer to be totally abstracted away from CLOCK itself. (…) So a node would subscribe to a tx stream type X, Y and Z and only have to deal with them and if a tx type B is having a problem, it would just mess up ledger B, while all the other ledgers just keep on going. So like a blockchain OS, you can run multiple “processes” but just one consensus chain.

My breakthrough idea is to overlap the time variable consensus generation with the actual blockchain data, since the consensus is only about which nodes are to become generators (no tx data at all), there is little room for disagreement, forks, etc. and this chain builds very fast. <2 seconds in my localhost test network of 128 threads. I have a logN network topology, so add 6 hops at worst case 500 milliseconds each hop still gets us to 5 second blocktimes for the consensus chain. Now we have a consensus chain growing once per 5 seconds and that means the data chains can be any time above this and it will be like a CLOCK.

With the line count being so low, it becomes feasible to get a full code review for any and all flaws. If I can totally abstract out the blockdata semantics, then it will be a framework for any sort of data consensus, in realtime, that a subset of nodes can maintain.

Instant backed and pegged fiat crypto transactions?

Since the codebase is so small and I fully understand it, I can start to solve the more difficult issues, like a backed and pegged fiat crypto, realtime ledger consensus, hmm actually I think those are the only two unsolved things left.

I will announce more specifics after I get a test version of a more useful system working.

SuperNET related projects

SuperNET Tees

lionelpreacherbot has made a limited quantity of SuperNET T-Shirts. The price is 1400 NXT. Global shipping available, please see listing for details. Go to Store ID NXT-QW8T-M25B-7WN3-EXNMA or simply search: Tshirts, SuperNET, or Clothing in the Nxt Marketplace and click the listing with the size of your choice.

ATOMIC

‘ATOMIC is a DAC, the asset holders actually “own” the company. So lets say that ATOMIC makes a profit of $100 during the monthly period and you own 25% of atomic assets. You would get $25 of the $100 as a 25% owner of the DAC. The profit is coming from minimal exchange and ledger recording fees. I believe it was jl777 who said that we will keep the fees pretty low in the early stages to attract more users but you’re still getting your cut of the profits dependent directly on how much of the DAC you own.’, writes Cryptaxe. Asset ID 11694807213441909013.

Coinomat

BTCD has been integrated into the exchange. You can exchange it to other crypto as well as to fiat, inlcuding withdrawals to any Visa/Master card and bank transfer. All crypto exchanges are instant.

Coinomat has enabled interest-bearing accounts at Coinomat.com. If you maintain a balance of 10 USD (/EUR) and above you are credited with a daily interest of 0.06% (currently). The interest is credited every day.

If you are a CoinoUSD holder you are eligible for interest payments, without even depositing your CoinoUSD at your account. In order to connect your NXT account with your Conomat.com account for receiving CoinoUSD interest you need to log in at Coinomat.com using token authorization in your NXT client. After that the interest is credited to your Coinomat.com account as long as you keep CoinoUSD in your NXT or Coinomat.com account. 1 CoinoUSD = 1 USD.

Freemarket

blackyblack has updated the site to include ratings and feedback of sellers. This, for now, is a centralized solution and ratings are isolated from other Freemarket nodes. Full decentralized ratings is an issue the FM team is working on.

Pangea

SuperNET Radio Network (SNRN)

“Security Saturdays” @ 2 PM EST has been launched. It’s an hour long show with a different topic every week aimed at educating people on the subject technology. The April 11th Subject is “BTCD & Teleport”. Lootz and Colin12 are the commentators.

SNRN has two other shows in the final stages of development and strategies timed to become active with the the public release of SuperNet.

Coins functionality in SuperNET

The SuperNET CORE coins have been chosen with great care for their dev teams and unique tech but not all CORE coin features will be implemented in the SuperNET wallet – only chosen features.
James explains:

Supernet is not a coin, so any coins afraid it will take over is a bit like facebook worried the internet will take it over. The internet has website A, B, C, … the combination of all the websites, is the internet. Now a specific website F, it is part of the entire internet, but it is its own website. The presence of other websites doesnt detract from it.

It is not a zero sum thing at all. It is possible for a new participant to gain, while all the pre-existing participants also gain. This is due to the value of networks being proprotional to N*N. The bigger the network the more each addition boosts everyone else and the more the new participant gets, like a snowball rolling down the mountain. And supernet is not just the coins, not just the software, not just the investments, not just all the asset projects, just like the internet isnt just Facebook. What can you do with the internet? What can you do with SuperNET?

BTC, fiat and all SuperNET CORE coins can be easily transferred in and out of the SuperNET Client, be traded with ease in the in-wallet decentralized exchange (InstantDEX, in beta), because without OPAL, you will not get access to OpalDrive, without FIBRE, you don’t get the chosen FIBRE features, etc.

The features being developed by some of the CORE coins for the SuperNET GUI functionality are currently as follows:

Opal – Opal Drive p2p filesharing

BTCD – Anonymity-related functionality

Bitstar – Further development of their in-wallet localbitcoins-like p2p trading platform

SuperNET CORE coins news

Fibre

FibreOS 2.0 will be presented with a device that you can connect anything you want to and it will give additional options for the more advanced users – supernet wallet, core coins wallets and some additional features from itself. It will present the great supernet tech and supernet core coins tech, and enable people to use one solution for everything they need, everywhere. With all SuperNET features like InstantDEX exchange etc, Fibre wallet, SuperNET wallet, Opal wallet, Vrc wallet etc, you will just turn on what you need, and you can install more software additionally, if you need it.

Opal

Opal Drive alpha released‘Opal Drive is the ultimate file sharing platform: Decentralized, easy, simple, quick. Opal Drive is a fork of Syncthing, and we’re building Opal integrations that will possibly even be pulled upstream.‘, writes bassguitarman.

OpalDrive can be accessed from Opal Wallet and the SuperNET Client.

‘Opal is in the process of hiring a go developer for this project, and needs support to help afford the work to make Opal Drive the best file transfer system out there. If you want to help, you can donate via lighthouse, and you will be forever appreciated for helping Opal develop. If you don’t want to donate, we still love you.’

As ever, life moves fast in crypto, and never more so than in the SuperVerse. The main news is that InstantDEX is approaching launch, another dividend is about to be distributed, we have a SuperNET v1 beta LiteWallet, but that’s not all, there’s plenty more still to tell you about – including a new addition to the CORE coins list: FIBRE.

MGW

SuperCoins ID

As part of the ongoing evolution of the Multigateway to become a key part of SuperNET, coin token names have been updated, as have asset IDs.

‘Note that all the assets delivered by SuperNET v1b (and found in the new SN wallet dashboard) follow different naming.’, writes VanBreuk. ‘The SuperNET MGW uses new assets. mgwBTCD has become superBTCD. And although James said iDEX could handle old and new assets as equivalent, we’ll be offering an asset swap for anyone who wants to update assets soon.’

And Longzai advises us that: ‘When we decide to drop the legacy mgw there will be 1:1 asset swap’.

SuperFIBRE (multisig details in development) and the SN versions of BTC, DOGE and others will soon be added. See https://multigateway.org for more information.

When you fund your SuperNET Wallet, the corresponding tokens will automatically show in the AE of your Nxt account where you can trade them manually for NXT or other assets, for example US$-pegged CoinUSD asset (ID 12982485703607823902) or the EUR-pegged equivalent (ID 18331302471589054607), which are also Coinomat gateways to fiat, via SEPA transfers to VISA / Mastercard.

MGW fees

‘Current MGW withdrawal fees are based on coin transaction fees and Nxt transaction fees, which need to be covered by the service. Since fees are subtracted from, for instance, BTCD withdrawal, there is a value in the servers’ configuration that defines the approximate equivalent of the NXT transaction fee in BTCD. Then the system applies twice that amount (covering the asset transfer and messages costs) plus a safe amount based on the regular BTCD tx fee, keeping in mind that multisig transactions may involve higher fees than regular ones. When InstantDEX brings price feeds, these “approximate equivalents” should refer to current market rate.’

‘The Fibre dev team has been represented in SuperNET Slack for more than a month but has always made it perfectly clear that Fibre was part of the Blocknet initiative. Recently, a real attempt to fulfill the requirements to integrate Fibrecoin in SuperNET as a CORE coin was started; opening Fibre’s source core tech to SuperNET analysts (the review was done by chanc3r), and after that, a swap of SuperNET assets with Fibre assets was required’, writes Eth.

We welcome the FIBRE Team and look forward to finding out more about their forthcoming projects.

Jay dividend

The Jay dividend is ready for distribution. 7.5% to SuperNET, 7.5% to NXTventure and 5% to JLH (jl777hodl) will be distributed. This will occur when fewer than 8,161 SuperNET assets are left in BTER. At the time of writing, BTER’s cold wallet has just over 20,000 SuperNET assets in it.

Jay (ID 8688289798928624137) will allow people without any software on their system to run the SuperNET GUI and access all coins. Jay will get an InstantDEX revshare when it makes a lite-InstantDEX. ‘I added a ‘GUI’ field so we can track which GUIs the orders are coming from’, writes James.

InstantDEX

‘InstantDEX core API is feature complete other than automatching hybrid orderbooks’, James writes. ‘Got the asset<->asset trading working and looks good. So now what is left is the most advanced case (hybrid orders), which isn’t even necessary at first and making it automatch and chart signals.

Then I will switch over to network security enhancements while the testers are pounding on it.

So, the ramchains, realtime MGW and InstantDEX should go into maintenance mode for me very soon. Then the security revamp will be squeezed in and that leaves Tradebots and Privatebet. Once I get the raw data parsed properly, I was just going to create a transaction list, along with summary stats for each asset that was traded and a global summary too.’

InstantDEX is getting inputs from the central exchanges, NXT AE and its own orderbook, so from a single display you can see prices from all the places at once.

API level testing of InstantDEX

InstantDEX is progressing nicely – and, more to the point, is working effectively. ‘Trade completes faster than I can switch tabs! The only difference performance-wise from a central exchange is if you don’t have any inventory of something, then you can’t retrade it until you have enough confirms. I will let each node decide what “enough confirms” means. But if you are trading with plenty of inventory and have enough aged assets, then you won’t even notice this.

‘Another nuance is that even though the trade is locked and done (like after hitting Send Money), until there is at least one confirmation, there is always some very small chance that it won’t get confirmed. I am talking about a big blockchain event or some sort of attack scenario. However, even in such unlikely events, all the components of a trade are atomic swaps of NXT <-> asset, so at worst you have a dangling half of the trade, but you didn’t lose any funds. As with any trading, if the market moves against you, well, not much can be done about this

‘So, not quite 100%, but 99.99%+ with the downside being partial fills. Since the performance is fast, the security of not having to worry about any central exchange is well worth this and I hope that people will be able to understand the slight difference. For the cost of one out of many thousands of trades not completely filling, needing to wait a block to be sure it confirmed, and some users requiring N confirms, we get to trade without worrying about the exchange dying. This being said, if you are trading assetized crypto, I still recommend to withdraw after you are done trading, if only so you can be staking. And nothing is as safe as your local wallet.’

Testing help required

James writes, ‘I made an instantdexbeta private group, only for people who will actually test, no spies. The best testers are usually becoming very good coders. This is because a lot of coding is about finding and fixing your own bugs.’

DM James in Slack for access – but only if you have the time to really test it.

InstantDEX Lotto

James writes, ‘My idea is to fund a monthly lotto with this 5% [the unallocated InstantDEX revenues], winner take all (shared between all that tie).

If total InstantDEX revenues are 20 million NXT, this is a 1 million NXT monthly jackpot, and each 2.5NXT fee you pay to InstantDEX gets you a lotto ticket.’

For those who still don’t understand how the pieces fit together (which is understandable, when there are so many pieces), InstantDEX can be considered ‘the grand central station of SuperNET. It connects everything to everything else and the more popular it becomes, the larger the monthly lotto. The high end of projections have it up to $100,000 per monthly lotto. At NXT blockchain saturation levels, NXT itself will be at least 2x if not 4x. It all combines to help everything else – and not to forget about BTCD, which is getting an InstantDEX revshare.’

Half-anon Cryptocards available

The half-anon VISA cards are now available to order – but not yet officially launched. Coinomat writes: ‘We are waiting for a dozen successful orders and activations to announce it officially.’

Getting your own card is simple, just register on coinomat.com, click the ‘First Swiss Card’ menu link and follow instructions.

Cryptocard is a semi-anonymous way to cash out cryptocurrency to an ATM card. Photo id but no bank details are required, meaning that a resale market can provide a convenient and private way to move funds from crypto to fiat. Cryptocard was originally funded by the BTCD community, and Coinomat will integrate BTCD within 2 weeks, and then start integrating the other SuperNET coins.

VPN BOUNTY

James has organised a 10 million VPN bounty for a new dev to join the team.

‘I would like to offer a bounty to make VPN for non-Windows environment to link up to the VPNcoin Windows VPN. There are several methods possible. One is to have a separate VPN and bridge to the Windows. The other is just to connect directly to the Windows VPN from unix.’

There is a 10 million VPN bounty for a working solution.

BTCD and Nxt

A reminder about BitcoinDark and Nxt’s status as lynchpins of SuperNET, and the financial benefits holders will enjoy:

Nxt

5% revenue share from SuperNET goes to NXT core development. And InstantDEX fees are paid in NXT, because SuperNET has NxtInside. James writes: ‘At 50 trades per minute it saturates current NXT blockchain (makes NXT earn 10% per year), but NXT devs say they can boost this capacity pretty easily. With average fees of 6 NXT per trade that is 300K NXT per day or 15 million per month. So even at current ATH prices InstantDEX is trading at PS ratio of 5 and PE of 10.’

Nxt is clearly one of the few platforms that’s going to survive long term, making it not only a safe place in which to trade and park your funds but also a hugely prosperous one as well, once (as anticipated) it’s earning 10% per year.

Nxt is going to present the key speech for crypto at this year’s PayExpo 2015. Damelon writes: ‘I want to invite ALL Nxt related businesses to provide us with their promo materials and relevant information! We are not there just as the platform, you also can get your products and services out there! This Payexpo will have a separate part especially dedicated to cryptocurrencies!

‘We are co-organising this, so if you feel you want to help out with this and have workshop experience or knowledge: let us know! Also, help us raise the last 500,000 Nxt to go here. We already have gathered a significant amount thanks to all of you. Let’s get this last part together. Donation address: NXT-ZGDQ-W9Q3-YFK6-4L8F4.

Read more on the Nxt Forumhere or join SuperNET Slack channel #payexpo to learn more.

SuperNET CORE coins

As the name UNITY suggests, SuperNET is not a coin but a cooperation between selected coins. If you’ve been following the SuperNET Newsletters, you will know that all SuperNET CORE coins have been chosen with great care. No copycats, no simple clones, no scamcoins pumped by a huge marketing budget: only truly innovative, useful coins with active developers.

SuperNET welcomes FIBRE

This means new tech, new developers, and a new community being added to the SuperNET family.

FIBRE, a young innovative coin whose launch was announced on November 5, 2014, is without doubt among the most promising altcoins in the crypto sphere, with active developers and a great portfolio of innovative features. FIBRE has a total coin supply of only 625k.

Fibrecoin also meets the rest of the requirements to be eligible for integration into the SuperNET CORE; from a technical point of view, opening their source core tech to superNET analysts (review done by chanc3r), and from the financial point of view, which required a swap of SuperNET assets with Fibre assets. To achieve this the help of the Fibre community was summoned. Most greatly welcomed the idea, collaborating not just with words but also with coins.

killakem, Fibrecoin:

One thing we offer that most don’t is an active team dedicated to this project. Someone from my team will be active in our slack channel around 18 hours a day. We have 2 in house developers and have a large network of freelancers that we can call on as required. Our lead dev Mammix2 is a seasoned crypto developer with his own accolades.

Main features of Fibrecoin:

FibreOS

FibreOS is a secure and anonymous operating system, a custom built, optimized and hardened Ubuntu environment based on the latest version 14.04LTS. The OS and Fibre Wallet data files are stored on SD or USB, and leave no trace on the host PC when unplugged.

FibreLock

FibreLock is a security feature that removes the keyboard from the password entry process by using an android style pattern based locking system. All inputs come from your mouse and your pattern becomes your password.

FibreConnect

FIBRE’s encrypted messaging system: FibreConnect also contains Notify, which allows messaging any wallet on the network. This can for example be used for sending out important update information.

FibreDark

The FibreDark wallet allows you to choose between using a standard Fibre wallet or awallet that will automatically connect to the Internet using the TOR Network, which will make your IP address and location hidden. FibreDark does not rely on TOR exit nodes, which are considered to be the weak link in the TOR network. The FibreDark wallet has hard coded onion addresses that point to new FibreDark nodes, which have been brought online to support the FibreDark network.

DarkNodes handle the routing of data between the TOR network and the standard Fibre network.

Fibre Mixer

Keeps your transactions private.

ZeroTrust

Feature under development.

OCUPY.net

Fibre is part of the OCUPY.net platform.
Fibre ZeroTrust will be the official transaction protocol of the Ocupy network.

The prize

One SuperNET silver coinThe coin is from a limited edition mintage of 1,000 physical .999 grade silver coins.
This standard silver mintage is the first in what will be a series of mintages, including antique and gold on silver, expected to be issued soon.

The coin is of ‘Proof-like’ quality, minted by Northwest Territorial Mint and presented in a plastic capsule.

Design:

Pondsea (the coinman) has chosen to issue the coin as an asset on the Nxt Asset Exchange, so it can be traded. The Asset ID is 1976421459488798622 and the issuing account NXT-F8QG-GNXA-U5TW-6DX3K. The asset represents the coin itself, so the winner can redeem the coin by sending the asset back to the issuer’s account with an encrypted message including an address to which Northwest Territorial Mint should send the coin. The shipping cost is included in the prize.

WHAT ELSE?

100 NXTP assets

Every month we send NXTER.ORG’s net profit out to our NXTP asset holders.
It’s a reward for their contribution, and now you have the opportunity to own some NXTP too.
You can either sell it or keep it and enjoy the dividends.

Submit Your Entry Here

But before doing so, don’t forget to read all the ‘small print’. : )

[contact-form-7 id=”6248″ title=”Enter contest”]

Terms and conditions (the ‘Small Print’)

By submitting an entry to this contest you will be deemed to have read, understood and agreed to these Terms and Conditions.

The contest and the prize to be won are as described in this article.

You can submit as many entries as you like.

An entry can be made in any language.

Entries will be published on NXTER.ORG from the 1st of March.

Submissions will not be edited in any way BUT
NXTER.ORG may exclude submissions because of illegal content.

All the entries (except for any excluded because of illegal content) will be put up for voting on nxtforum.org/nxter-org/win so that the Nxt Community can choose the winner. No Average Joe audience, please the geeks or loose, you geek!

The entry with the most votes wins.

The sender of the essay / story / meme / code / video / comic / whatever judged the best by the Nxt Community will be rewarded with 1 collectable SuperNET silver coin and 100 NXTP assets sent directly to the NXT account that was specified in the winner’s entry form.

The winner takes it all: the SuperNET silver coin and the 100 NXTP.

The winner will be notified in a NXT arbitrary message.

NXTER.ORG cannot be held responsible for any problems regarding the silver coin prize, its delivery or the winner’s ownership of it. If there’s a crack in the silver coin’s plastic capsule or any other issues with the redemption of the silver coin asset won, contact the issuer, Pondsea. If you are not allowed to own silver or anything Nxt-related in your country, and the police turns up and shoots your dog or something – you shouldn’t have entered the contest. It is up to YOU to comply with the relevant laws in your state and country. We are not responsible for your actions as a human being and citizen of planet Earth (and the country you’re in). Not. our. responsibility. The same, of course, goes for the NXTP assets.

NXTER.ORG will not collect any personal information from the contest entrants.

By entering this contest you give us permission to publish your entry alongside your NXT acct ID on http://test.nxter.org and http://nxtforum.org.

The winner will also be announced on NXTER.ORG’s frontpage, in the nxtforums and in SuperNET Slack #announcements, and probably in various other places too.

NOW, if you agree to these terms and conditions, you may enter the contest. : )

SuperNET v1 – soon!

We had hoped that we could announce the public release of the official SuperNET v.1 client and give you a download link to the fancy new wallet too, but… a new idea arose, new innovation was developed, yet more code was written by jl777, the GUI had to be adapted in response, and – not least – the client simply needs more testing. Most important of all for this SuperNET release is that it MUST be easy to use. SuperNET intends to reach outside of traditional crypto circles to Average Joe, and it must therefore be Joe-ready. That includes a neat installer, to avoid all the regular issues of downloading and unpacking the client.

If you’d like to help speed up the release process, ask how you can help test the new client on Slack. James writes, ‘API channel is testing the realtime MGW. v1 GUI that uses same API is internally released. New MGW servers with all 5 ramchains is in realtime mode. So a few more things need to get cleared up, but it is happening.’

In the meantime, James continues programming, along with an ever-increasing number of CORE coin- and 3rd party feature developers. The Slack community also keeps growing (391 in SuperNET Slack now), making it probably the largest concentration of talent and support in the crypto world. The main features for the next version of the SuperNET client are already taking shape, but let’s stay with the scheduled release for now. The client we’re waiting for is a user-friendly Multiwallet containing the SuperNET CORE coins (BTCD, OPAL, VPN, VRC, BITS and NXT), as well as BTC and DOGE.

SuperNET Silver coins

Pondsea has been working on some SuperNET silver coins, a limited edition mintage of 1,000 in .999 grade silver, numbered 0-999. The Asset ID is 1976421459488798622 and the issuing account NXT-F8QG-GNXA-U5TW-6DX3K.

The asset represents the coin itself, which can be redeemed at any time by sending the asset back to the issuer’s account along with an encrypted message including your address. The redeemer of the coin will be sent a cost for shipping, which they will need to pay to receive the coin.

Pondsea writes, ‘I made it as an asset on the AE so people can trade it. I am basing the coin at $45 USD, but Slack guys get an extra 10% of the asset up to 1 free coin. I know some will take advantage and buy 10, get the free coin then sell the 10, but I don’t think many will. Just buy it and let me know from what account and I will shoot you the bonus.

‘Just for total disclosure, my cost price for the first 100 is about $40, price will go down slightly when I mint in batches of 500/1000 or when I have the demand to twist the mint’s arm.’

Each CORE coin in the Supernet will get a free silver coin to donate to their communities from Pondsea, and James has bought 100 of the 1000 mintage to use for a special project.

Ramchains

Btcddev has created a ramchain-powered block explorer, which can be found at http://104.131.45.236/ ‘You can do things like make a quick rich list, etc. You can see the time it takes to parse the blockchain for the richlist at the bottom of the page… usually gets ~40-70ms.’ For the uninitiated, this is an almost unimaginable increase in speed over traditional blockchains.

James has had to build in deliberate delays. In fact, the speed with which ramchains operate has caused some unexpected problems during testing. ‘There seems to be a glitch… I think it went too fast! What looks like happened is that the deposit got processed instantly, before the NXT address was filled in to the payment module! Being able to rescan entire blockchains in 10 milliseconds creates a lot of unexpected problems.’

As well as being faster, ramchains are far smaller than regular blockchains – the most highly ‘distilled’ version may be between 10 and 20 times smaller, and the data is ‘orders of magnitude more efficient to operate in the distilled space… but it is not just about the raw compression ratio, but the effective active memory footprint required to do useful calcs.’

MGW

Development on MGW has accelerated markedly since James implemented ramchains. ‘I can make 100+ test builds per day of MGW so it can rapidly evolve and in fact, instead of changing MGW to use ramchains I just added MGW functionality directly into ramchains. When it takes an hour to just find out that you had a typo and you have to restart again, it is quite difficult to debug as it is easy to get distracted. And then you make more mistakes, leading to more test builds needed, etc… with ramchains, I have to slow it down. It makes it a lot more fun to develop with near realtime feedback. So, I expect to be enhancing ramchains with InstantDEX, Teleport, etc’.

‘It has been a marathon to get ramchains done so I can get realtime MGW done, but as far as my work, these are pretty much done for now. We can test all SN gen1 coins at the same time, as the MGW servers already have realtime ramchains for all the supported coins.’

A separate feature autoconverts some of the deposited currency into NXT, which is necessary for certain transactions – further reducing the friction of getting started. It also registers the public key (a point of some discussion in Nxt circles…). ‘Time from starting to getting a funded new NXT acct (with pubkey) and BTCD assets ~3 minutes.’

MGW works on three independent servers, which must be in agreement to allow withdrawals. Because these are typically in different timezones, setting them up can be tricky. Once debugging is complete, various coin communities will run different servers. ‘Servers with the 5 coins are run by VRC, OPAL and BITS devs along with vanbreuk for the [NXT] bridge. With the realtime MGW, one triplet will be able to handle pretty much any volumes the blockchains can handle, in either direction. Though the withdraw side for this is yet to be proven and could have some issues with too many withdraws at once requiring time to catch up.’

New lead API developer

Bassguitarman has become lead API developer for SuperNET: ‘We added 2 new api calls, Python and bash, so now you can embed python/bash inside SuperNET.’ Expect more news.

SuperNET buys JinnLabs technology

###
870,000 NXT for a special technology transfer that will enhance the privacy of SuperNET. all the tech is trinary based and developed by JinnLabs. code to be created by Come-from-Beyond

details will be sent in PM
payments would be made to Jinn acct

James

###

Watch this space for more details on what’s involved.

Tradebots

Tradebots are waiting for InstantDEX, which however will be launched with a tradebot. Join the Slack discussions around what capabilities the tradebot should have.

Cryptocards

The semi-anon card from Coinomat is almost ready to ship now.

(The bank’s logo has been blacked out for now.)

Additionally, Coinomat has released coinoEUR, an asset tied to the Euro to accompany their USD-tied coinoUSD asset. Both can be bought through coinomat.com, traded on the Nxt Asset Exchange, and withdrawn at any time to your bank card or to PerfectMoney, Egopay or Okpay.

SuperNET Radio

lootz writes, ‘SNRN Decentralized solution is in place, it will take time to embed in all the sites. Each site will eventually have the centralized version and the decentralized version. Difference is the centralized hosts will know every ip listening to it and decentralized player alternative will keep your ip address only known to the listener who is rebroadcasting the stream to other listeners. Which is very random and most listeners do not know how to obtain this information.

BITS

Bitstarcoin is releasing a new wallet and website shortly, as part of the preparation for developing their p2p ‘localbitcoins-like’ in-wallet exchange further, which will enhance superNET’s range of crypto<>fiat routes.

SuperBITS

‘Due to Bitstarcoin being part of SuperNET, a ‘2.0’ equivalent to BITS has been created on the NXT-based platform which you can trade into and out of by way of the SuperNET Multigateway on a 1-for-1 basis.

1.0 = BITS
2.0 = SuperBITS

1.0 remains on its own blockchain and wallet, to which some modifications and updates are coming. 2.0 (SuperBITS) operates within the NXT-based platform and can therefore be incorporated into numerous decentralised services such as the Asset Exchange, amongst other features and functions available now, soon and in the future’, explains Bitstar_coin.

CHA

Press

SuperNET hasn’t started a real marketing campaign yet, since the preference is to finish the tech and market something that works rather than just sell hype. All the same, we’re gaining some interest. Take a look at the following articles:

SuperNET Wiki

The SuperNET wiki needs a little more attention. Noashh writes, ‘SuperNET Wiki at http://wiki.supernet.org – please help to populate it, especially when you’re working on any SuperNET related projects. Everyone can make changes after signing up. Contact @js.galt or me for any questions.’

The SuperNET Newsletters

A very big thank you to everyone who is working so hard. Keep up the good work! We catch what we can, but noone should be able to keep up with decentralized innovation. That’s the power of it!

So if you’re in a SuperNET related coin or project, please post your updates and announcements in Slack channel #announcements, or contact apenzl directly, to make sure you get your deserved spot in the newsletters. Thanks in advance, and see you next week!

This week it’s a round-up of some of the latest tech and services developments ahead of the big v1 release. As ever, there’s plenty of news to report.

Topics

SuperNET Client

Client v.0 Update

SuperNET Client v1.0b

CPMT

SuperNETx2

SuperNET Dividends

OpalTKN

NXTCS dividend

JLH

JLH Lottery

JLH Bonuses

SuperNET Radio

SuperNET on video

SuperNET Slack community managers

Jobs Thread

Development Update

Timeline

DB MGW

MMatrix vs InstantDEX

InstantDEX Ranking System

SuperNET core Coins and features update

OPAL

BTCD

Vericoin

Coinimal

Coinomat

Cryptocard

Omnigames

SkyNET

Freemarket

SuperNET related links

SuperNET Client

Client v.0 Update

While we wait just a little longer for the v1 beta, a few more features have been added to v.0, the SuperNET enabled NRS Client. Coinimal and messaging functionality in Dividend+ have been included. The fiat gateways Coinomat and Coinimal allow for simple and instant USD and EUR conversion into BTC and SuperNET core coins, for example by bank transfer. The Dividend+ feature enables anyone to issue dividends on assets.

Additionally, a newest Nxt core feature has been added, requiring a hard fork @ block 330000, so please update your client if you have not already. The Nxt feature is Monetary System, which allows anyone to issue coins on top of the Nxt blockchain. To read more about the different types of coins you can issue and their applications, see here.

SuperNET Client v1.0b

Testing is underway of what will become the primary multi-wallet for SuperNET users.

Where as Longzai’s v.0 Nxt-based client is a way for the preliminary functionality and features of SuperNET to be added, as and when they are ready, the “basic mode” v1.0b sNET GUI release will primarily concern essential functions.

t3cltd writes, ‘Given the innovative nature of the tech and the rapid advances and new methodology being brought to bear by some of the brightest and best within the SuperNET community, a stable base beta is to be the first release with the implementation of weekly builds to follow. This will help us avoid ‘chasing the technology carrot’ and the risk of ever-delaying the release while ‘one more feature’ is added.’

‘There is a two-pronged approach to managing and implementing functions and features within the SuperNET platform, consisting of two levels of user experience planned for the GUI. The primary, ‘basic mode’, has been intentionally designed to invoke an intuitive and easy to understand premise, namely, “Here is an electronic wallet, it holds a range of digital currency that can be sent or received.” Every single function we add within that simplistic scope must be able to be presented in a similar fashion for our ‘basic mode’ to succeed as an interface which is intended to be marketed to those absolutely unfamiliar with cryptocurrency, the wider public.’

‘SuperNET intends to leverage, not just the technology, but the kind of multi-platform-feature-laden inclusive user experience generally unavailable within mainstream cryptocurrency 1.0, namely, that which is best described by the word, ‘UNITY’.

‘The ‘advanced mode’ is currently set to revert to the existing NXT-client-based SuperNET UI v.0 where services and functions are a mix of those provided by the core development team and third-party collaborations which may include commercial projects or private enterprise. It allows for a mix-n-match of tech which can be evaluated and experimented with amongst a group of users already adept at using cryptocurrency services. The key is that the very best of this tech, that which is evaluated as being innovative and, above all, useful as a feature to all SuperNET users, will go on to be selected for inclusion in the new GUI.’

The SuperNET v1.0b basic gui has been deployed to Longzai for integration today, 20.01.2015.

A special edition of the SuperNET Newsletter will be posted shortly after the release of the SuperNET Client v1, which will include an in-depth look at some of the cutting-edge tech developed by James for the sNET GUI, such as ‘Ramchains’.

CPMT

Although the idea of centralisation might be anathema to cryptocurrency supporters, the reality is that a decentralised model is not conducive to smooth, reliable and professional-quality development. SuperNET’s infrastructure remains as decentralised as ever, but a team has been put in place to manage the regular updates to the SuperNET client as new services are added.

James writes, ‘This is a very important initiative and puts in place a professional management team for the product release cycle, while still retaining the decentralized nature of SuperNET. For now, getting the overall budget approved is the priority to make the compensation real. Then I suggest that the product management team can discuss the details of budgets, personnel, etc. here until there is consensus that is then ratified by the community.

The 5% of UNITY shares reserved for James’ bonus, should the price have tripled by the end of 2014, have been earmarked as payment for this Centralised Product Management Team (CPMT). A new asset, SuperNETx2, has been created from the shares to achieve this:

SuperNETx2

‘SuperNETx2 is an asset created to reduce selling pressure on SuperNET as it is redeemable at 1x, but could be worth up to 2x, so only people who are desperately needing SuperNET to BTC/NXT would ever sell it’, James writes.

The new asset was created to protect the market price of UNITY, since some will need to be sold to pay for immediate costs. ‘The asset is funded with 5% of SuperNET so it gets those revenues plus another 5%. This new asset will trade from between 1x and 2x SuperNET, so the people earning it at face value (1x) could essentially be getting double if their work is a success.

I also want there to be a weekly tipping cycle, where the sum of the week’s tips earned by anybody in the community will get allocated their prorata share of the weeks’ SuperNETx2 tipping budget.

‘I think the first year when the SuperNET price is still so low, then the people who are earning it will obtain a disproportionate revenue stream, especially if high end goals are met. After that they will be getting the revenues from the dividend flowthrough and that will hopefully be enough to allow for full-time workings. With 40,000 SuperNETx2 budget for 2015 it is worth 600 to 1200 BTC.’

SuperNET Dividends

SuperNET asset holders may have received asset dividends which have not been announced in Slack or the SuperNET Newsletters. The Dividend+ plugin in SuperNET client v.0 allows for anyone to send NXT or asset dividends to holders of any asset issued on the Nxt Asset Exchange, including of course, SuperNET/UNITY holders. Some asset issuers use this feature for promoting their assets. The assets they promote may or may not be legitimate.

SuperNET holders do – as always – need to carry out their own due diligence. If an unannounced asset starts paying out substantial dividends (sometimes as large as its own marketcap), it’s a signal that something is wrong. It may be tempting to buy more, but your ponzi-alarm should be ringing.

Others are using the Nxt dividend mechanism to show their support for SuperNET and promote the assets that have been dividended out to SuperNET/UNITY holders. Here are some examples:

OPALTKN

OPALTKN (asset ID 5326942574002986149) has sent out a modest but welcome SuperNETx2 dividend while they continue working on their main revenue stream. OPALTKN is a revenue-sharing asset that was sent out to SuperNET holders last month. (SuperNETx2 is a new asset created from the 5% of UNITY assets that were made available after the price of UNITY did not reach James’ bonus threshold at the end of last year. These are now reserved for people working towards the v1 build cycle, and will only generally be available on the secondary market. See further below.)

NXTCS dividend

NXTCS (asset ID 12658817572699179955) is happy to support the SuperNET, and to show its appreciation for the SuperNET community has dividended out 5% of its assets to SuperNET assetholders.

NXTCS is a callback service for developers which helps to integrate NXT payments in any website or application without the need to run a NXT node and checking incoming transactions. NXTCS is a project led by xchrix, the developer of cryptocoincharts.info and several other projects.

100% of future profits will be paid to shareholders. The first ~6 months there will be no fees for the service to acquire customers and help the NXT economy (this service helps building many opensource payment plugins etc), after then fees may be charged for business customers and additional services that get added will be easier to monetarize.

JLH

JLH lottery

Last month a lottery was held for new JLH/JL777HODL holders buying from the GLYDA account, with prizes of 25,000, 50,000 and 100,000 NXT to three randomly-chosen winning accounts. These winning accounts were:

The lottery code used for this use case by James can be used by anybody for any asset. The lotto function is built into the SuperNET API.

JLH bonuses

The JLH/JL777HODL (asset ID 6932037131189568014) is a longterm holding account for promising assets (many of which involve James as developer or consultant), and it’s going to be the reference asset for asset-to-asset trades with the SuperNET core feature InstantDEX. More.

As explained in the JLH Newsletter, ‘the JLH portfolio has two sources of NXT revenue: The dividends it receives from its assets and forging revenue. In 2014, this revenue was invested in new assets and to pay for events that were organised to increase the transaction volume.

Starting in January 2015, the revenue will be partly distributed to the JLH holders as a bonus.

The first NXT bonus has been paid to JLH hodlers: .005 NXT per JLH, 50,000 NXT total.

Another bonus can be expected by the end of February, but if jl777hodl accumulates a large amount of dividends beforehand, then they will be paid out sooner. The exact date will be announced by LibertyNow when we get close. Funds can be tracked by viewing account: NXT-2AHU-UXZW-K9Q2-HENLW.

SuperNET Radio

SuperNet Radio Network (SNRN) is now broadcasting across 18 Affiliate Websites with programming originating @ Flagship station supernetradio.com

SuperNET on video

JS Galt, CoinTelegraph writer and person responsible for the supernet wiki, has been discussing the SuperNET on camera:

SuperNET Slack community managers

James writes, ‘Recent events have brought to our attention the need to set some standards that can ensure a positive, diplomatic channel of communication with other communities and solve any friction if the case arises. For that, @noashh and @damelon have been appointed due to their extensive experience in the matter and have accepted the responsibility to do so.

‘This is a call for everyone to acknowledge this and respect their duties as our brand new community managers.’

You can join SuperNET Slack by sending an email to info@supernet.org, asking for an invite. The Slack-logs can be found in our forum: https://forum.thesupernet.org/index.php?board=46.0 Also, several channels have now been linked to their relevant IRC-channels.

Jobs thread

It is easy to lose track of material in Slack due to the number of users and the 10,000 message limit. 5000Bitcoins is putting together a jobs thread on NXTforum, where people can list their skills and look for suitable people to carry out SuperNET-related tasks: https://nxtforum.org/job-board/supernet-job-thread/

Development Update

Timeline

James writes: ‘The timeline is event driven. Ramchains -> MGW -> InstantDEX -> Teleport. Then Telepathy can be added. Tradebots are built on top of InstantDEX. The problem is that if I find something is not right (like bloated blockchains), I fix it. So now instead of bloatedchains we have ramchains.’

Ramchains is a cutting edge tech we will give in-depth details of in the special Newsletter edition being released shortly along with the SuperNET Client v1.

DB MGW

Multigateway has been completely rewritten to make it faster and more effective. VanBreuk writes, ‘DB MGW relies on a custom database with blockchain information of every coin handled by the server, so instead of querying the coin daemon to retrieve data from the blockchain, which is quite slow by any standards, the SuperNET (MGW) software can process requests much faster by using its own database. Also, MGW operations are now included in the SuperNET API and that allows it to deliver requests faster, and monitor them from another node.’

MGW servers

SuperNET will be subsidising the running of the Multigateway servers for one year. This is necessary due to the amount of work required in maintaining servers and answering queries from users. After the first year, ‘I expect the monetization that is possible via running MMatrix node will create plenty of nodes. MMatrix nodes get to cherrypick orderflow. Riskless arbitrage will happen. We won’t need many per month to pay for server costs.’, James writes.

New technology and new server triplets for new coins are currently being developed and added to Multigateway.

MMatrix comes with InstantDEX

There is some confusion about the difference between MMatrix (announced in SuperNET Newsletter #10) and InstantDEX – unsurprising, since they ‘are pretty much one and the same’. MMatrix is decentralised orderbook propagation. ‘The InstantDEX API side has been done since last July,’ writes James.

‘The MMatrix nodes will need to directly earn arbitrage spreads. I will also make vanilla market maker bots that MMatrix node can run, but this comes with some amount of market risk. ]InstantDEX asset will get revenues from the “google ads” effect… the MMatrix node that has paid the most fees to InstantDEX gets the top placement and the chance to cherry pick the most orders. They can only execute within the parameters the users are setting as the trade is actually done peer-to-peer, so the MMatrix node can become the other peer if it likes the order. If not, it sends to the rest of the MMatrix, so the other MMatrix nodes get second shot at it. Then if it is still unfilled, all the rest of the users will see it. So it is quite an advantage to be in the loop.’

The result of this process of competing to take part in peer-to-peer trades is that there should be a steady stream of InstantDEX fees.

InstantDEX

InstantDEX is coming along. A quick recap:

InstantDEX supports near-realtime asset-asset exchanges. ‘It enables the ability to carry out a trade and know the price you’ll get even if there is a long block – and to change your bid/ask without cost. I aim to make it so you get the best price (either direction) when using InstantDEX.’

InstantDEX ranking system

A system is being developed to enable fast and reliable trading over InstantDEX. ‘You place orders, then peers contact you to make a trade. You either accept, reject, or counteroffer.’ In this way, peers can quickly determine who is a reliable trading node – timewasters can be blacklisted.

However, there is a time cost of negotiating. ‘In a fast-moving market you want to make a deal quickly, not end up haggling over fractions. So each node keeps stats on what percentage of time orders are just accepted, etc. This feedback may need to be propagated too.

‘Ultimately what matters is the trading volumes, though that can be faked. So what really matters are the total fees paid to InstantDEX and quotes will be displaying a ranking of this, so you can tell apart two offers on the orderbook at the same price/volume. For example, if one account is ranked #2 in fees paid and the other guy is #47. Of course, people can artificially boost their ranking by sending funds to InstantDEX. This is somewhat of a problem as far as accuracy goes, but it is like the accepting higher Google rankings by price paid.

‘This allows a newcomer to just send an amount to InstantDEX so others can see his offers and also that he is real. The side effect of InstantDEX collected ranking fees, well, I can live with this.’

SuperNET core Coins and services update

OPAL

Opal is on the move. Take a look at this video, giving an overview of the coin and its features: https://vid.me/2maa

The Opal team has officially released its integration of the ColorCoins source code into its platform. This puts Opal in great company as the second asset exchange platform to partake in the SuperNET, along side Nxt.

The Colored coins capability is accessible to command line users, but among the next wallet upgrades a new GUI will integrate this second generation technology alongside everything else Opal brings to its users, inside a one client wrapper. Opal has a live rest API and live blockchain explorer here: http://live.opal-coin.com

Opal has also teamed up with F-Secure to address the problems of malicious software downloads: https://altcoin.center/safe/

In other news, OPALTKN has dividended out SuperNETx2 assets (see above), and http://www.opalcoinradio.com has joined SuperNET Radio Network.

BTCD

BTCDdev has compiled the SuperNET.exe wallet for Windows.
If you can help with testing this, please get involved. You will need to build BTCD on Ubuntu.

BTCDdev explains: ‘It may seem confusing because SuperNET Client v.0 runs some plugins in the Nxt NRS Client, but the actual SuperNET API with ramchains, teleport, etc is run with BitcoinDark and Nxt too. Bitcoindark.exe runs Supernet.exe. The new BitcoinDark has lots of new code to let it talk to SuperNET.’

After the big v1 release of SuperNET a lot of the development focus will shift directly to BTCD and InstantDEX (of which BTCD plays an important part). In preparation for this upcoming development activity and for more BTCD focus, BitcoinDark is now getting its own Slack page.

Please go to the official website here: http://bitcoindark.pw/slack/ to request an invite!

Vericoin

New Vericoin Wallet

veryveriviral writes: ‘We’re proud to announce the release of our new VeriCoin Wallet Version 1.5 this Friday, January 23rd. Our Official Press Release has been sent to SuperNET as well as other media outlets. More info forthcoming via @VeriCoin on Twitter.’

VeriCoin Wallet 1.5 brings many new, exciting features. We have a multitude of new Tabs Sections including – “SuperNET”, “Chat”, “Forums” and “BlockChain”. We’ve introduced a “Real Time” scrolling News Ticker, the option to set the number of Decimal Places, as well as added more avenues to acquire VeriCoin with our “Get VRC” Tab. Auto-Update will make future updating a breeze and with Turbo Bootstrap you’ll be syncing to the BlockChain in minutes.

Coinimal

Coinimal is giving €5 to every fully verified account. This voucher can be used at the first order. You can find Coinimal at https://www.coinimal.com or through the latest release of the SuperNET v.0 Client.

Coinomat

Coinomat has launched bank wire transfers in USD and EUR! ‘You can buy any crypto we support with a bank transfer now. They have also enabled direct BTC -> CoinoUSD exchange (CoinoUSD is Coinomat’s dollar-pegged asset). Find out more at Coinomat.com.

Cryptocard

‘The anon card is ALMOST there. Cut us some slack on that one, if you follow our service you probably noticed that we keep our promises. ETA is a week or two.’

The idea behind the anon card is simple: ‘You send BTC, you get fiat to your card and can withdraw it at an ATM. We want to make the transfers instant. Maybe at the beginning it will take around several hours, but in some time when a user sends his coins he will be getting money to his card immediately.’

This is a very exciting project, and a critical part of the SuperNET/anon ecosystem. Card payment processing profits will go towards dividends for the Coinomat asset. ‘We plan to launch a merchant API right after the card is launched. There will be a separate project; the plug-in has already been coded.’

Users will be able to order cards from Coinomat.com, although the ability may also be integrated in the SuperNET GUI. ‘I think we will reduce the fees as much as possible for SuperNET users. They are bound to one account in a bank, and each card is not tied to its own account. So you don’t have a new bank account if you have this card. The card will cost $40.’

Omnigames

Amarha writes, ‘It’s going well. We’re working on the first two white label games that we’ll be able to use as bases for customization. The first full game will start by integrating BTM as the first crypto for in-app payments, faucet like functions, and p2p marking.

‘The first two white label games are going to be based on a couple of popular mobile game concepts: match 3 (similar to candy crush, bejeweled etc) and a ‘runner’ type of game (similar to cookie run). With the white label games we’ll be able to customize them in terms of features, graphics, sounds/music etc, to create unique games for specific cryptocurrencies. For example, if the Nxt community believed that having mobile games that integrate NXT for in-app payments and faucet-type features would increase adoption and work as a good marketing tool to generate users, then we’ll be able to customize the white label games to use NXT as the central focus of a game.

‘Behind all of this I intend there to be a social platform as well, but I’ve decided to focus on getting the content built first before developing the social layer.’

SkyNET

A brief update from nexern: ‘Just for those who don’t follow the dev-monitor (http://finhive.com/fh_devmon.html), db-cluster is tested and running stable/fast as expected.

Fetchers/importers in progress and are the main working part now. Let the data flow in now.

– fetchers for crypto exchanges written, adding API service monitoring and bar builder (1m and up) the next days. stocks and currencies are next.
– 60+ trader resources (forums, portals, associations) for later announcements and ad placements added to the marketing resource db. more resources in different languages are added over time.
100+ candlestick pattern for the custom TA lib are finished. created as SVG, the images can processed by code. chart formations are next.

A great year ahead, that starts with happiness and ends with that too.’

Freemarket

Concorde Escrow service

poofknuckle writes, ‘Concorde is an escrow system that works in conjunction with FreeMarket, and it can be integrated into other systems as well. Concorde integration will be included in the next release of FreeMarket.’

It works like this: Sellers have the option of using Concorde for escrow. If they do so, the money from the buyer is sent to an escrow provider who is using Concorde, and that provider will intervene if there is a dispute. If there is no dispute, and both the buyer and seller sign off on the transaction, then the money in escrow is automatically released by Concorde to the seller.

Escrow services are not provided by the FreeMarket team. Third-party escrow providers are free to offer their services via Concorde, and all a seller has to do is enter the escrow provider’s NXT address in order to use that provider for escrow. This is done on a per-item basis, so a seller can use different escrow providers for different items.

This newsletter is (should have been) shorter than usual, with the holidays getting in the way. Still, of course, there are some exciting developments…

Topics

v1 client

JLH – The Lottery

– more on JLH

The jl777 Bonus

Opal client

OPALTKN dividend sent

VPN SuperNET client

MGWcoin asset dividend?

FinHive

Pangea

Freemarket bounty

SuperNET Bug Rewards

Development Update

95% done

The MGW bridge

And so it begins…

Community and marketing

Happy New Year

SuperNET related links

v1 client

The SuperNET v1 client is nearing BETA release. ETA is January 2015.

v1 is a huge undertaking, with some 50+ API calls (and growing) to be integrated. Since it is unrealistic to release them all at the same time, there will be varying levels of ‘ready’ – coded, tested, GUI-integrated, fully documented, and so on.

James hopes to be mostly done with coding core functions by the end of the year, but this all depends on coverage of regression tests, unit tests and results of testing. Get involved in testing if you can! Contact Azeh for more details.

Eth explains, ‘the dev team has been working really hard through this holiday time in order to release the beta version 1 of the client before the year ends.’

‘It will be improved on a weekly base – Meaning every week we will release a new version with noticeable improvements based on intensive testing and the feedback from SuperNET community.’

‘We aim to cater a wide audience, therefore the basic GUI module is very intuitive and simple. Anyone that is not used to deal with crypto will be able to use it with a minimal learning curve. For those veteran crypto users, we have an advanced version based on the NXT NRS dashboard that will ensure access to deeper control and analytics.’

JLH – THE LOTTERY

A lottery has been announced. For each 100 jl777hodl bought from the NXT-PY3K-SDTG-PHTV-GLYDA account sell wall on NXTAE, 1 lottery ticket is issued.

JLH has asset ID 6932037131189568014. Only assets bought from the GLYDA account are eligible.

Prizes will be paid to 3 holders: 100,000 NXT for 1st prize, 50,000 NXT for 2nd and 25,000 NXT for 3rd. Anybody has the same chance per 100 JLH, whether they buy 100 or 10,000 assets. The lottery will include historic purchases (from GLYDA), with the eligibility period stretching from November 1 to December 31.

James writes, ‘With the fiat value of 100 JLH being around $6, it is a pretty good payout ratio for the 100,000 NXT prize and everyone is basically getting three tickets per 100 JLH! This is because you can win all three prizes with just one batch of 100 JLH.’

Winning tickets will be randomly selected via the SHA256 of a random phrase selected early in the process. Based on James’ Telepathy protocol calculation, the closest buyer’s txid will receive 1st prize, and so on. Ties will share the prize for the place won. Prizes will be award during the first week of 2015. Measures have been taken to avoid gaming the system, and if you sell from your GLYDA batch, you will lose your tickets.

There are currently JLH shares for sale at a lower price than the GLYDA sell wall, so be sure to buy from NXT-PY3K-SDTG-PHTV-GLYDA if you want a ticket to the lottery.

More on JLH…

As announced in the previous newsletter, JLH will be the reference asset for InstantDEX asset trades.

Also, libertynow writes: ‘There will be monthly bonuses starting in January. After the massive dividend lottery the monthly bonuses will be for all shareholders and will come from NXT dividends of underlying assets.’

The jl777 Bonus

As part of the ICO process, two bonuses were agreed for James via a vote. These were designed to reflect the time, expertise and assets that he put into SuperNET. If the market cap of SuperNET tripled before the end of 2014, James would receive a 5% bonus 40,803 UNITY). If it went ten-fold by the end of 2015, he would receive a further 5%.

Despite an impressive run-up, the wider crypto bear market means it is unlikely that the UNITY price will reach the required threshold for the bonus to be paid (0.0234; for current UNITY price see http://coinmarketcap.com/assets/#BTC).

However, if the threshold is reached, James has said he will share the UNITY amongst those who are most active in making SuperNET what it is and will be:

### My calculation shows 0.0234 as the threshold and really, not much chance of this happening at this point so no sense in getting all worked up about it.

However on the off chance that it happens, I would like to share the bonus with everyone that has helped SuperNET to get to where it is. There are 300+ people in the SuperNET slack now, a large number of them working really hard and while I was critical to get the SuperNET started, already I am becoming a small part of the big picture.

In the unlikely event the 0.234 threshold is hit, I am giving it out as holiday bonus to the SuperNET contributors.

The allocation will use a decentralized process. First round of voting to determine each person’s “weight” and then a second round where each person allocates the portion of the bonus (calculated by their weight) to 3 to 5 people. The process itself will be finalized via community consensus, or lacking that even another vote to determine what method to use to do the allocation. I do not want to do any arbitrary bonusing as with 300 people in the slack now I dont know the exact level of contribution from most of them as I am spending most of my time coding and answering questions. I am not a micromanager.

So investors should be happy that the key contributors as determined by the community will be getting the largest bonuses

I believe this makes for a happy community, which in turn will create a better SuperNET.
###

If a tripling of the SuperNET market cap is NOT achieved by the end of 2015, the 5% bonus will NOT be paid out but become a part of the SuperNET working capital.

SuperNET added to VPN coin wallet

MGWcoin asset dividend?

James has announced another possible dividend – of mgwVPN – the exact date is to be decided.

The mgwVPN dividend is a completely new type of SuperNET dividend as it will take the form of a MGW asset. ‘That will be a first for an mgw-based dividend and allows distributing a crypto to people who don’t even have the wallet for that crypto.’

Release is still some months away, but testers will be required in due course.

Freemarket app bounty

blackyblack is offering a reward for anyone willing to implement a Freemarket plug-in using MyNXT.info’s system. ‘This task requires a modification of FreeMarket UI or building it from scratch like it was made on the freemarketlite. It also requires a hosting for FM core since mynxt.info does not use 3rd party software on their servers. This task is very similar to freemarketlite.com service. Hosting expenses will be paid by Freemarket funds.’

Contact blackyblack via Slack or PM if you are able to help. The reward is 2,000 Freemarket shares.

SuperNET bug rewards

Finding bugs in the SuperNET API is a critical part of ensuring it is robust and ready for release. There are rewards for successful bughunters. Previously, a set number of UNITY have been shared amongst bugfinders. From next week, this will be changing to a points system. ‘At the end of the week each participant’s points will be divided by the total points for the week and based on this will receive their percentage share of the weekly pot.’ Major bugs win 10 points, medium ones 3 points and small ones, 1 point. The total pot of rewards is as follows:

Development update

95% done

SuperNET core functionality is nearing completion! James writes, ‘95% of the core is finished. Debugging is the main thing left.

‘Finally got the DB MGW to sync using SuperNET API and get consensus and calculate all tx it needs to do in a few minutes runtime. So now it is a matter of debugging the bridgenode, and some interface stuff like realtime deposit addresses. Then all the coins can become mgw coins and this will allow for all sorts of magic…

‘With 40,000+ lines of new code… design review is in progress, some people are informally looking at the code, GUI is coming along… so like a turtle things proceed forward, and this is with several weeks delay from doing the DB MGW this month.

‘Next is InstantDEX and MMatrix. I will get the autoconvert working via MMatrix. It won’t be full InstantDEX, but it is what is needed first. Then as that goes into the long test cycle, I complete the InstantDEX, then the Teleport, then the Tradebots.’

‘It’s quite tricky to get the MGW, InstantDEX, Tradebots, Teleport and Telepathy all working simultaneously. So the final connections, debugging, debugging and more debugging. But now we have more API testers this will be quite helpful, especially automated tests.’

The MGW bridge

James writes,

‘I have pushed new versions to the dev MGW servers and the bridge for mgwBTCD. I have tested realtime deposit address generation, deposit recognition, deposit triggering an asset transfer (and publishing pubkey), withdraws being detected and also withdraws being processed when all three servers are in total agreement. ‘

‘The bridge is now bidirectional, there is an HTML backup, realtime address generation is ~10 seconds, realtime status is ~10 to 30 seconds.’

And so it begins…

Last comment today, before ‘will be resting’:

‘I deployed a fully automated on-demand DB MGW for BTCD. It will generate a multisig deposit address in realtime and you wont need any NXT to bootstrap an account as the first MGW deposit will be partially converted to NXT as it sets your pubkey.’

‘By sending at least 0.1 BTCD to the deposit address, it will fund your account at 100:1 ratio with a 2 NXT fee to cover tx costs. if you change the “convertNXT” field from 10 down to 2, then it will only use 0.04 BTCD. Min deposit is 0.05.’

‘When the servers see that there are pending deposits or withdraws and all three are in agreement, it will get processed. This is 4000 lines of “new” code, it used to be closer to 10,000 lines, but I streamlined it and rewrote most of it this month. The big improvements are speed and ability to get status. It is also a specific use-case for a SuperNET application.’

Community and marketing

Although James has been pivotal in the creation of SuperNET, it is his aspiration to be able to step back from this ‘central’ role once the main tech has been completed.

‘Now, what people tend to do is put the entire SuperNET into the “jl777” category. While it is true I started it, I have always said I am just the guy who gets the ball rolling and the community is what will create the SuperNET. Back when the community was 10 people, maybe this was something people didn’t put much value in, but look at the number of people, up to 300+. That is a LOT of people and I am seeing wonderful things! There is a spirit of cooperation between all the coins. I had a vision about this and it is happening like I saw, but I never realized the timescale. I thought I was seeing something many months ahead, but it has been really several weeks from when things started going crazy. This bear market is quite a torture, but in a way it is making people realize the stability of SuperNET – that it is a safe haven.’

There is a pervasive ‘zero-sum’ mentality in crypto: that in order for one coin to succeed, others have to fail. One of the reasons SuperNET was created was to address this. ‘The SuperNET concept is a filter that makes the zerosum people reject it, so we get the people who believe that cooperation is the key. As it grows, people who believe in dog-eat-dog will start to want to join as it will give them a competitive advantage over others… hopefully the SuperNET spirit will be able to overcome their tendencies. We have so much to build and it will be hard enough with perfect efficiency. Except we are pretty picky about who can join, and a lot of the rejects went and tried to make a clone…

‘Once the SuperNET is fully functional, the all the spiral arms of the galaxy can be (will be) put in place automatically by everyone that uses it. This is what I saw too, but 99% of this is not me at all.

‘On the financing side people are realizing they get a lot more than 2x the value by joining with SuperNET, so this is a very good way to add services and a good way for service companies to be able to just develop the tech. Since most of the cost of a new business is customer acquisition, this part is a big short cut. When the SuperNET starts spitting out the dividends, this is when the really crazy gravitational force things will happen.

‘So, as you can see, all the crazy fantastic things I wrote about the SuperNET are coming true, one by one. Soon it will be time to actually marketing this. I do have some experience in that field, but for now gotta finish the tech… premature marketing is not a good thing.’

‘Happy holidays peoples! things are really coming together! once we get the multiwallet++, then getting the InstantDEX and Teleport hooked up will be next, but even without that the v1 release will be quite cool.’

Happy New Year!

A very big thank you goes to James, and to everyone working so hard to make SuperNET such a ground-breaking force in cryptocurrency.
Wishing you had a very Merry Christmas and looking forward to an exciting 2015,

As the end of the year approaches and the launch of v1 gets closer, developments are gathering pace – and so is interest in SuperNET. Once again, we have lots to report.

First up, a brief announcement that people have been asking about:

BTer has finally sent the last two dividends, SkyNET and Pangea, and they have re-enabled UNITY withdrawals. We recommend that anyone keeping UNITY on BTer withdraws to a NXT wallet – ideally the v.0 SuperNET wallet available from Multigateway.org. This not only gives you full control over your assets, but enables more reliable distribution of dividends.

You may also be aware of rumours of a pump and dump ring that has been operating on BTer, with some unpleasant accusations about threats made against other parties. Whilst it is not clear who is involved, it is always safer to keep your funds off-exchange. Now let’s talk SuperNET.

Topics

New CORE coin: VPN

SkyNET

The early bird SkyNET SALE

Remember tradebots?

InstantDEX

BTCD: Reference currency

JLH: Reference asset

Market making JLH

MMatrix

OPAL

Wallet update

OpalTKN

OPAL/jl777 teleport project

VRC update

BTCD revenues

Coinimal

Development update

Infrastructure update

Sportsbet

Bug hunters required

SuperNET compiled on Windows

SuperNET related links

NEW CORE COIN: VPN

A new core SuperNET coin has been added: VPN. James writes: ‘The new coin is not like any other I have seen. In fact it only runs on Windows, of all things, but this adds Windows expertise to SuperNET. More importantly it is a coin that is the doorway to China as it is done by a Chinese dev team. Now, have you heard about the Great Firewall of China? People there aren’t supposed to be able to use Google but there is a technical trick to allow for this. Yes, it is called a VPN. The new coin is vpncoin, also bitnet. This is a doorway to the China market for SuperNET. Do not underestimate this.’ See further here:

###I am not sure the marketing distinction, but we will be porting the vpncoin GUI to ride on top of the SuperNET API for comms. which they currently just use the bitcoin messagingnow with some help, it should be possible to get this VPN functionality for unix/mac

Oh, did I mention that as part of this deal, SuperNET will be handling a 50 million VPN rewards fund? This will be for the supernet slackers who are helping the bitnet and probably a dividend to SuperNET/NXTventure holders.

Did I mention that 600M VPN (that is 60% of current supply) will be burned this weekend? And SuperNET also receives for its acct 47M VPN.

60% of total supply burn + 10% being assigned to superNET = 70% out of market

The bitnet team is small and we need to help them fully integrate into SuperNET. To complete the deal the bitnet team will be getting 1000 SuperNET assets, so the SuperNET it is receiving a big discount and the expectation is that we will help them.

they have TOR / voice / chat / video / irc / VPN / HTTP Server

currrently 1 billion, 600M burnt, 97M to SuperNET with 47M long term HODL and 50M for SuperNET slackers that are helping integrate VPN, dividends, promotions, dev team has about 50M, and 60M is a long term reward for nodes. There is only ~200M public float now, but the 50M for the improving and 60M for node rewards will take time to hit the market. So to preserve marketcap it is 2.5x being price neutral, but probably a bit more due to the extra 50M that would reduce the basis. Like I said, this one is not easy to do, need to evaluate based on market cap and of course the CMC number is all wrong…###

SkyNET

SkyNET (asset id: 6854596569382794790) has made a deal with FinHive (blockchain agreement txids 17121561730737863232 and 8809916241760899104):

FinHive has made an agreement with SkyNET to become a wholly owned subsidiary of SkyNET

In exchange for 45% of SkyNET and 4.5 million NXT, FinHive will work on the referenced plans

All future revenues from FinHive operations will flow through SkyNET

Revenues in excess of operating costs will be distributed as dividends to SkyNET assetholders

‘FinHive intend to develop efficient trade-strategies and algorithmic-trading, by utilising the full depth of all generated analytics and AI results. It makes sense for FinHive not only to share but also to use new detected (unknown) market patterns, formations and other unique entry/exit signals for algorithmic-trading… It isn’t discussed how this will be organised later but the first step now is to generate the analytics at full depth and form a solid subscriber base. Information advantages will be monetized right after.’

This is a highly ambitious and exciting project, and it is no surprise that the asset has already gained a lot of interest. The concept is to reach out into the world of real-world trading as well as crypto, bringing revenues back into the crypto economy. Developer nexern writes: ‘As far as I know, no one has built something like this on this large scale before. There is a pretty big market for financial analytics/algorithmic trading and the goal is to enter this external market, generating a constant revenue stream for SkyNET and its shareholders. Merging crypto and traditional finance resources is promising.’

‘The tech and data is available and tested. Dev resources are already allocated and I don’t expect any real problems developing this beast. Sure, the workload is huge, because nearly all components are custom-built at low level but that’s all been taken into account. It is quite clear to us, we are building something big and unique here.

‘On the roadmap, sorry for the laborious English but as a non-native speaker it is difficult sometimes to express as precisely as desired. In case you have any questions or suggestions for improvements, I am here to do my best to answer them.’

Project preparation is under way and regular updates will be provided. ‘A dev blog is set up to provide general status information and updated progress details on each dev section. The first one, as seen in the roadmap, is the data-cluster and data aggregation. To make the development transparent, shareholders can not only monitor the progress but also view and test completed components. A webdesigner will take care about a shiny layout later.’

This happens to be an area of interest and expertise for James, who writes: ‘I spent 4+ years optimizing SVM [Support Vector Machines – pattern-recognition algorithms], and making useful features from forex price time series. nexern is proven dev, also proven ethics. Combining his NN [neural net] stuff, which would have been decent, with my SVM, well… I expect to have some quite profitable signals being created and transmitted to the Tradebots. Also, the space for SkyNET is not limited to crypto markets. I put in 3 million NXT of SuperNET funds, I also bought in the open market.’ (see below)

The early bird SkyNET SALE

An early bird SkyNET sale was announced on the forums (NXT price speculation thread, BTT SuperNET thread and SuperNET forum) as well as Slack. SkyNET assets were available to medium-to-large investors (typically 50,000 NXT and upwards). The minimum investment was specified to avoid the administration of many – perhaps hundreds – of transactions being required. In response to questions from those who missed out (the offer was oversubscribed very quickly), James writes:

‘I did post all the details. This was a fringe benefit for the most active SuperNET fanboys as I really appreciate all the hard work they are doing in constructing the SuperNET. SuperNET made 3 million NXT investment at 15 NXT each. As a reward to SuperNET contributors I allowed them to piggyback at same price. (yes, I know I am basically giving away free money, probably a few millions NXT worth, but gotta reward the fanboys dont I?)’

Therefore a total of:

300,000 SkyNET have been sold at 15 NXT
75,000 SkyNET were dividended out to SuperNET assetholders
75,000 SkyNET were dividended out to NXTventure assetholders.

Of these last 75,000, InstantDEX received about 30,000 (since it owns about 40% of NXTventure). These were passed through to InstantDEX assetholders, since InstantDEX has no specific need of them.

Remember Tradebots?

SkyNET/FinHive’s tech will be used for tradebots (NXTcoinsco). The tradebots asset manages tradebot ‘leasing’. The idea is that individuals create tradebots and allow others to invest in them on a profit-sharing basis – if the tradebots are successful, investors will receive a slice of their income. This operates like PAMM (Percentage Allocation Management Module), where investors allocate money to specific traders and share in their successes.

Tradebot creators can choose to pay for SkyNET data, and SkyNET itself is expected to be behind many, many different bots. Investors will look at the historical performance of a bot, meaning that the best strategies rise to the top; unlike normal forex markets, the tradebots will only make a charge to investors if they produce profits.

The incentives are therefore in place for designers to create successful bots, not simply convince investors to back them. Bots and designers with a strong track record will naturally attract greater investment.

InstantDEX, BTCD and JLH

Work on InstantDEX, the system that will enable near-realtime crypto trading, continues.

Generally in cryptocurrency trading, prices are quoted relative to BTC; Bitcoin is still the ‘reference currency’ since so many people use it. It is like the USD of crypto. The idea is to make InstantDEX look and feel like a regular exchange so that traders see something familiar, but under the surface, something very different will be happening.

BTCD: reference currency

Instead of using BTC as a reference currency for InstantDEX, James is using BTCD. There are various reasons for this, ‘some technical, some financial’. Key to trading of any kind, and to InstantDEX’s aims, is liquidity.

‘So all the SuperNET core coins they will have liquidity and low spread conversions between each other (and BTC) and be priced by default against BTCD. Of course, anybody can set things up however they want but the default for the orderbooks will be BTC for “normal” trading and if you are wanting telepods or best conversions between them, it will be BTCD. This I think solves the transition for traders and gets them into the SuperNET trading.’

In other words, all trades will go through BTCD: a DOGE -> LTC trade will really be DOGE -> BTCD -> LTC. One reason for this is that it requires liquidity for far fewer trading pairs; instead of ensuring that DOGE <-> LTC has liquidity directly, so long as DOGE <-> BTCD and BTCD <-> LTC have liquidity, the trade can be carried out with a BTCD stage in between (invisibly).

This has significant implications for BTCD, over and above the 5% revenues from SuperNET – since it will be in constant use. James writes, ‘I prefer not to make any specific price predictions, but it makes sense for BTCD price to track the price of SuperNET, not in lockstep as that is not how markets work, but rising in tandem.’

JLH: reference asset

The same problem with creating all trading pairs with sufficient liquidity also exists for assets, only it is worse as there are typically larger spreads for assets. ‘It is just not practical to support direct orderbooks for a full matrix of all asset pairs. What is needed is a reference for assets that is like the “DOW Jones” index, something that represents the overall asset market and not anything else.’ jl777hodl (JLH) will be used as the reference asset, in the same way that BTCD is the reference currency for InstantDEX.

‘I expect JLH trading volumes to go up, a lot, and the spread around the NAV to shrink, so this is not a “moon” thing, but a liquidity thing and liquidity is quite important. Once we can maintain small spreads like 0.1 with volumes for JLH orderbooks, that would mean going from asset <-> asset will also have much better spreads than now.’

Spreads are currently anything from 5-20% for some assets, and trading can entail significant losses through this alone. High liquidity with BTCD and JLH will mean any coin and asset pairs can be traded efficiently. It also enables an ‘autoconvert’ feature that enables users to view their portfolio denominated in whatever currency they want to view it (BTC, BTCD, USD, UNITY, JLH…) without the actual conversion incurring major losses.

‘At this point, crypto becomes much more useful as a medium of exchange and store of value and then the Tradebots will be able to find many more ways of squeezing out more satoshis. I am envisioning a realtime display of the account balance and with tradebots active, you would be able to see it change in value as it is happening. Imagine a wallet, you denominate it in EUR, unleash the tradebots and it starts showing more and more EUR in your account. It is this vision in my head and just needing to get it all debugged, all the pieces are pretty much there, but so many pieces the connection points aren’t quite right, but it is just a lot of debugging and all of this comes to life at the core of SuperNET, with all the other stuff on top.’

Market making JLH

In order to give JLH adequate liquidity, libertynow has taken on the role of a market maker. He is regularly calculating the NAV and placing buy and sell walls to reduce the spread to < 5%.

New assets are periodically added to JLH, and since these have not been announced and/or do not have a market price, the fund is generally undervalued.

MMatrix

Ensuring liquidity is key to the smooth operation of InstantDEX and, therefore, SuperNET.

‘I am currently working on market maker support for InstantDEX,’ writes James. ‘There will be a limited number of spots available to be a MM, prioritized by the amount of fees paid, so naturally the best market makers rise to the top of the list. At first, maybe just a small donation payment will be enough to get to the top of the list. Then 32 (or 64?) of the market makers will make a matrix, I call the MMatrix. The InstantDEX users would contact the first market maker in their sorted list for their offers, so the higher on the list the market maker is, the more orders it has the pick of.

‘For the orders the MM doesn’t want to immediately fill, they broadcast to all the other market maker nodes. This gives advantage to the MM at the top of the list as they get to cherry pick the best orders, but ignoring this incentive to pay fees, as far as users are concerned, all the market makers have the same orderbook (other than the one packet delay).’

MMatrix will be very fast. ‘It should have less than 1 second round trip to any point in world, so all the nodes query the selected MM, who can cherry pick the offers they like, that is how they make extra money in addition to normal market making. Anybody can register to be a market maker by posting an AM. The priority to order resolution will be the first MM with acceptable price, searched in order of past business levels, so the MM with the best spreads will naturally rise to the top of the list. This is only for orders between the NXT AE bid/ask – otherwise just go direct to the AE orderbook.’

OPALTKN

OPAL coin has issed an asset on the Nxt Asset Exchange. OPALTOKEN will receive 25% of revenues from the OPAL market. The standard fee is 1% of sales. This is still in beta and trades are denominated in OPAL, so the dividends will likely be in terms of mgwOPAL. You can keep up with developments here.

10% to SuperNET
10% to NXTventure
5% to jlh777hodl
25% to the OPAL team
50% to faucets

This is in addition to the recent OPALTKN giveaway that took place via Slack and the forums. These tokens came from the faucet allocation.

OPAL/jl777 teleport web project

What: James would like the OPAL team to develop a ‘telepathy web’ on top of his basic html site pushing mechanism. Telepathy is BTCD and the SuperNET’s private communication system. Opalcoin will develop an easy-to-use publishing GUI, as well as help develop integration with privacy servers. This will be considered an OPAL contribution to supernet, and OPAL will be credited.

Why: To address the flaws in TOR and create a more decentralised web mechanism. James has already developed the basics; as the technology progresses, more functionality will be released.

How: Interfacing with SuperNET, the OPAL team will add and build in qt features with C++, while James develops the backend in C.

VRC update

effectstocause writes, ‘Almost done with major components of supernet integrated vrc wallet. Then focus will move more so to DHT storage. We will discuss differences and similarities of Storj with Opal for optimal impact. We actually had a lengthy conversation with Storj at btc Chicago. Cool guys.’

BTCD revenues

People have been asking for some clarification about the role that BTCD will play in SuperNET and the revenues that will be paid to it.

BTCD is at the core of SuperNET. To reflect this, 5% of SuperNET revenues will flow to BTCD stakers. (Periodically a snapshot of stakers will be taken and BTCD purchased using SuperNET revenues to distribute to them, pro-rata.) At this point, this has no direct impact on BTCD value. However, ‘long term it should dominate the value of BTCD as there are only 1.2 million of them.’

This also provides a safety net for BTCD. Unlike other coins, which can theoretically plunge in value, ‘it will always have a nice floor due to the 5% of SuperNET revenues, which is actually 10% of what SuperNET assetholders get, since SuperNET holders get 50%, NXT core devs 5%, BTCD stakers 5%, SuperNET core coin communities 20%, overhead and expenses 10%, TBD 10%’.

Bitcoin Shanghai Expo

SuperNET was introduced at the Chinese conference (28/29 November). Salsacz writes: ‘During my speech on day 2 I presented SuperNET as a solution for using any anonymous technologies without the need of exchanges and risks of revealing your IP, email or freezing account or getting it stolen. In the brief summary during the speech I introduced James as a dev, his assets and also explained the diagram and the story about the Pirates. I brought all whitepapers, even the chinese versions.’

Development Update

Infrastructure

SuperNET’s infrastructure is a network of servers running around the world – many on users’ home computers and cheap VPSs, but also a series of high-quality nodes that will provide the backbone of the service. James: ‘It is boring compared to SkyNET, but still quite important. As we get closer to initial release with core functions, we need to have the infrastructure, especially MMatrix.

‘So SuperNET contracted for 10 mega servers to start and will probably get a lot more. For people concerned about the “Instant” of InstantDEX and core capacity of DHT this solves that, as the best software running on snotkitten class hardware will just not provide the performance people will expect.

‘Boring compared to new asset, but quite a nice foundation for the network to run on. Most people won’t have any such servers, but most won’t be running a MMatrix node, so, need to make sure MMatrix node capability is known, tested and then the monetization it will generate can be calibrated.’

SportsBet

The sports book is nearing completion. However, James needs ‘someone that understands the different events and enough XML syntax to make templates. Then the code can automate the sportsbook creation. This would then plug into InstantDEX for peer-to-peer betting.’

Bug hunters required

There are big bug hunting rewards (https://forum.thesupernet.org/index.php?topic=301.0) available for anyone who can identify significant bugs in the SuperNET API. Rewards of UNITY will be paid out to anyone who can find problems, with a sliding scale of amounts. The API is largely untested, so there should be lots of bugs to find!

Rewards will be paid out at the end of each week to bug-finders and will continue for 5 weeks (until early January 2015).

If you find a bug please make sure to post it on Slack (in the API channel and to Azeh) and on the SuperNET forum here: https://forum.thesupernet.org/index.php?topic=296.0

At this point, it is question of finding as many people as possible to issue API calls manually and seeing whether it acts as expected. However, l8orre has a more advanced setup – a scripting and testing controller in built in Python3. ‘Right now it has a facility to plug in controller classes. What does work is using this as a relay which sort of is the same as using curl. The scripting class exists, but I need to extend it a little bit. Schedulers are also provided… i.e. timers that check back regularly for pre-registered actions every 4 seconds, do ‘settings’, then loop over the whitelist and ping every IP in the whitelist, then do GUIpoll and see if there is a pong, but it may need some honing to streamline it a bit… In its simple form, it does the same as curl…’ If you’re interested in helping, contact l8orre.

SuperNET compiled on Windows

BTCDdev writes, ‘Some great news today! I finally managed to successfully compile SuperNET on Windows! This will have a VERY great and immediate effect on our community! Once jl777 and I knock out a few minor kinks in it, anyone running Linux or Windows will be able to become a SuperNET tester and begin using its awesome services! With a nice GUI doing very well under development by longzai1988, hundreds of people in slack and more joining every day, and now this, we can rest assured that our community has some great days ahead!’

It’s that time again, and once more there have been lots of developments since our last newsletter. A new promising coin has joined the SuperNET core, a SkyNET dividend has been announced, and we’ll walk you through the current holdings of SuperNET as well as this week’s development. Hang on.

Topics

New core coin OPAL

SuperNET client v0 update

SkyNET December asset dividend

The buywall is back

SuperNET Holdings

Coins

Assets

More on the value of future dividends

Other announcements

Vote James

Nxt-starter SuperNET plugin

Freemarket Concorde

Coinimal profit-sharing deal

Freebieservers

Pangea

Jaynodes

Instant decentralized crosschain exchanges

Development update

SuperNET related links

New core coin OPAL

OPAL is the newest SuperNET CORE coin. On November 27 James made a pre-announcement that a new coin had been selected. On Saturday the news about OPAL hit, and the jl777 effect set in…

OPAL had already experienced a significant rise in price, roughly tripling over the previous 24 hours with their announcement of their Storj partnership. The SuperNET ANN gave the OPAL rocket extra fuel, spiking the price from 0.00003 up to a peak of 0.00007. After predictable profit-taking, the price now seems to be oscillating around 0.00004. James comments that SuperNET owns something in the region of 9.4% of OPAL. The substantial gains this represent should be reflected in the SuperNET NAV: ‘Small stuff in the big picture, but nice nonetheless.’

The easiest way to update to 1.3.4.3 is to download the .zip file from the link above or the Multigateway site and unzip it to its own directory. All of your information should be stored on the blockchain, so you will just need your passphrase to access the wallet. To speed up getting started, you may want to copy the “old” database folder (nxt_db) to the new installation. This avoids having to download the blockchain again.

SkyNET December asset dividend

Codename: SkyNET (asset ID 6854596569382794790).

1.5 million NXT worth of the asset sold out overnight, when James gave the opportunity for medium-to-large investors to get in on the ground floor with the new asset. James wrote, ‘For a limited time only and in lots of 50,000+ NXT, I can offer assets of an upcoming SuperNET deal. PM me on slack if you are interested.’

The sale is over, but the asset will soon be dividended out to SuperNET holders.

The buywall is back

The buywall has been reinstated. James confirms: ‘I put up a 1 million NXT buywall at 160 NXT on NXT AE and by Monday on BTer there should be the same 1 million NXT buywall at 160 NXT.
‘It is probably a bit above the strict asset NAV, but with 168 now in slack, the value of so many in the realtime SuperNET community is giving me very good feeling for the future. Half a dozen new channels spontaneously formed this week. So the decentralized power is coming into play as I didn’t even know about them until I looked at the list of channels.
‘Also, the market is not properly valuing the SuperNET holdings of Pangea, Jay, Omnigames and other assets, but I set it below the current market price so as not to affect current market.’

The current market price for UNITY is around 200 NXT.

SuperNET holdings

There has been some (understandable) confusion about the many and varied assets that SuperNET holds, as well as the structure of these assets and SuperNET in general. A quick summary of the coins, first: ‘Off the top of my head, there is approx 10% of: BTCD, VRC, OPAL, BBR, BITS, 5%+ of CHA and NXT,’ writes James.

Then the assets that will generate revenue for holders: ‘SuperNET is the main holding entity, but it holds some assets that in turn own other assets. It is like a directory structure. So the leaf nodes would generate dividends to its holders, this would include the individuals and other assets. Then the assets that got these dividends from the other assets (Privatebet being a prime example of this) would add its own operating profits to the dividends it got and dividend this to its individual holders and other assets…’

‘The idea is that the specific gaming (or other type) asset, in this case neoDICE, will be the item that directly reflects the performance of the neoDICE. And all the gaming assets are routing dividends or revenue share via Privatebet (it owns 35% of neoDICE and has 20% revshare deals with Pangea and Omnigames). Privatebet will also directly have its own decentralized sportsbook next year. So, Privatebet will have meaningful fractions of half a dozen+ other gaming assets, with a percentage of 20% to 25%, this should add up to more than the average of any specific asset, though the diversification protects from any large change (up or down) and it is meant to reflect the aggregate decentralized gaming sector.
‘The following is NXTprivacy’s holdings, anchored by 60% of Privatebet:

‘NXTprivacy will also have direct fees from Teleport, so it has a book value in excess of (40% of 7 + 60% of 40) = 26.8 NXT per asset. Since it is trading at 28/34, if you are able to buy at 28, that is like paying 4 NXT for Teleport revenue stream.

‘The NXTprivacy dividends would flow into SuperNET and from there to its holders, coin communities, etc.
‘I know it is a bit complicated, but due to compartmentalization requirements and also some legal insulation, it was deemed to be the safest path. For example, some people are concerned about some legal issues with owning “gambling” based assets as some primitive countries make that illegal. However, if you own something that owns something that owns something that owns something that does a decentralized dice game and each entity is having a specific purpose other than adding “distance”, I think it is helping on the legal side.

‘Over time, I expect Privatebet to gather more and more gaming assets, and of course SuperNET itself to continue to add to its collection of assets.’

‘A portion of SNN is allocated to the writers and MyNXT only has 100,000 total assets, so it is looking much smaller than the others but if you look at the percentage owned it is at a healthy 17%. SuperNET/UNITY is thus a very diversified single asset that is the sum of all its parts. Keep in mind that these are mostly independent projects and different ones will come online at different times, so there won’t be a switch that just starts a flood of dividends. It will start with a small trickle and as the dozens of dividend sources all combine and grow, the SuperNET dividend will eventually become quite substantial.

‘However, I could not estimate accurately when all this would come online, nor what the levels would be, so I priced the ICO at book value. That means that purchasers of SuperNET got all the future revenue potential for free and the price performance during the bear market has proven that asset (and crypto) backed SuperNET is the superior model. Certainly there is development and timing risk, but nice to have a solid floor.’

Funds in SuperHODL are pre-authorised for spending. James is not authorised to touch other funds, except for those in transit. To improve security, most of the cash NXT is in one account, and assets in a separate one.

More on the value of future dividends

Re the dividends mentioned above:

### There are 75000 each of omnigames, Jay and SNN in the pipeline, so just a bit less than 1 asset per 11 UNITY assets. With an average market price of 30 NXT for these, 100 UNITY would get 11 * 30 * 3 = 990 NXT worth of dividends. Timeframe is totally unpredictable, but with the market price of about 180 NXT this is 1/18’th > 5% return just from the dividends.

Keep in mind that 90%+ of UNITY value is backed by the BTC, NXT and other crypto it holds and it uses this to put up buywalls to allow for liquidity. Currently there is 2 million NXT worth of buywalls at 160 NXT, one in NXT AE and one in BTER.

I target a risk profile of 20% on the downside and X% on the upside. If you hold onto the asset dividends and they grow, then the yields are better of course. I didn’t charge anything for the revenue side of SuperNET as it was sold at NAV, e.g. liquidation value and this is why it has held its value throughout the bear market.

James###

Other announcements

James got nominated for the Proof of Honour award mentioned in the last newsletter.
So now he’s up for vote: http://www.coinssource.com/vote-jl777

A brief note from POPPP about the CoinEvolve rescue project, http://Nxt-starter.com:
‘My SuperNET plugin will be ready this week or the next one.’

And one from Poofknuckle of FreeMarket:
‘Pre-announcements, it’s what all the cool kids are doing! We don’t want to be left out, so here is our pre-announcement of a new feature for FreeMarket. Codename: “Concorde.”

‘What is it? I wish I could tell you. More info as it gets closer to release…’

Coinimal profit-sharing deal

A new initiative called Coinimal, a Euro-crypto gateway, reports this profit-sharing deal with SuperNET:

Freebieservers

Freebieservers is an interesting initiative to integrate NXT with a free gaming server platform. This is particularly promising as the business caters to crypto’s core demographic and growth area: Technically literate teenagers and young adults (typically male). You can read more here. Some updates from Freebieservers:

We will be selling 350,000 shares at 2 Nxt each to raise 700,000 Nxt. Out of this 7500 USD worth nxt will be flown into completion of development efforts that have been going on.

The rest of the budget will be used for servers, marketing and maintenance. Post the revamps (which will finish by Jan 15th) , our sole focus would be on user acquisition and scale.

While we’ve actively looked into various crypto’s as a means of advertisement/partnership, if nothing fruitful occurs by the stipulated date for launch of v2.0 we’ll be going with other advertisers (glispa.com integration for eg) and attaining scale.

Jan 15 – April 15 will be solely used for scale of the project and occasional integration of SuperNET into our operation.

The goal is to sign up 1 million users, all of whom will be introduced to NXT as a core element of the platform. The current userbase is around 75,000, and there are substantial opportunities to access new markets where there is established interest already.

Pangea

Decentralised poker app Pangea has had a GUI upgrade – take a look here:

We’ve been discussing a few more sensitive things privately the last couple of days. I’m going to set up a Pangea section on NXTforums with two things I need input on for now: A couple of set avatars to pick from; and discussion of how to get a steady flow of players. I’ve got a few ideas. Most importantly I am on the marketing side of things, so my real goal is a solid strategy to get fiat players to Pangea! I’m going to fill this section with subjects of discussions so we can get many different ideas/brainstorming going and end up with the best of them.

Ask in Slack or on the NXT forum for more details if you’d like to chip in.

Jaynodes

Last week a future asset dividend called ‘Jay’ was announced. Here’s a little more information.

jonesnxt is working on a light wallet and a framework to go with it. This is a significant step, since the majority of users won’t want to download a client to use the SuperNET. James comments, ‘This will totally revolutionize crypto adoption! All SuperNET coins/services crypto secured, but accessible via normal web browser.’

###Jay is a framework made in javascript that runs on a number of different websites and makes sure that the version it is running is secure. It then has a large API of NXT and SuperNET functions for plugins to use. The Jay node calls any number of random SuperNET servers, and can then get a valid response from any coin connected to the superNET.

Plugins are compressed and saved into chains of AMs through NXT, until they are loaded into the client and run. The entire client itself is built up of different plugins, so different websites can set up configurations of plugins to best use the main plugin that the website would promote.

So, a website like MGW would have a jay node at multigateway.com/jay, for instance. Then they would configure the default setup to have the MGW plugin along with a few of their favorite plugins to point users to in order to easily use the features on the internet with security and without additional downloads.

Distributed consensus

All nodes on the nodelist (NXT) are public nodes with cors enabled and hallmarked (around 20 good ones). Each API request is sent to three randomly-selected servers in parallel. If the three servers are in complete agreement on the data, then it is deemed usable.

If there is any discrepancy, another round is called, and two more randomly selected servers go into the mix. With now 5 servers polled, if the second round are in agreement and side with any of the first round’s data, that data is selected.

Otherwise it starts breaking down the data and finds consensus if it can. I might add a blacklist if there are servers that are continuously outvoted by the other nodes

So basically, at any given request, the best case scenario being n where n is equal to the node with the slowest response, the less likely edge case gives us 2n and the very rare ‘under attack’ case gives us 3n.###

Instant decentralized crosschain exchanges

Long time no mention of ATOMIC in the SuperNET Newsletters. A powerful new development is in the works, let’s have a reminder from ATOMIC developer Cryptaxe:

‘Basically it is a decentralized exchange run by everyone who wants to participate (as a miner) in the ATOMIC network. Imagine bittrex or cryptsy without the need of a website – pure and straight cross-blockchain trading of coins/assets, that is ATOMIC. A ledger that ANY crypto-currency can use in order to record transactions and exchanges.

‘For example, a user requests to exchange Doge for BTC. A request to InstantDEX is made, and then InstantDEX makes use of the Atomic ledger to record the transaction in a decentralized way. It’s a trustless way for exchanges to be recorded and a way to make payments from one blockchain to another. ATOMIC, InstantDEX and MGW (Multigateway) are all layers of the same idea.’

‘This is like three branches of a self-regulating transparent government. By recording transactions to the public ledger the exchanges are basically trustless, which is what blockchains are for, decentralized trust.’

Development Update

James writes: ‘I am still in MGW. I almost finished porting the MGW into SuperNET. Now anybody can process deposits, so theoretically, there could be 100 people who all deal with 1% of the deposits. Also I figured out how not to need any AM messages to correlate the tx, at least I think I did, still need to debug the withdraw side to make sure. Once you are set up, it takes just a few minutes to get current status.

‘MGW is being used by SuperNET before, now all the nodes will have MGW code built into them.

‘The above curl command run locally processes MGWdeposits and it is runtime configurable for what coin/asset and the servers are specified. If there was Phasing, then as long as the required number of people run the above command, the deposit transfer would be approved. Of course it would run in the background, so as long as enough people are running it.’

This raises the security of MGW by raising the 2-of-3 consensus requirement, subject to phasing limitations on the deposit side. ‘A similar thing could be done on the withdraw side, but the problem becomes the requirement of having multiple triplets and load balancing (i.e. unspent deposits matching withdraw amounts).

‘It would be possible for any N people to set up their own MGW address that can be used to issue deposit addresses and process withdraws. Basically I just wanted to merge the code bases and intend that the production MGW guys can run MGW via some API commands, but the tech will be there for anybody to use. It’s still in experimental libjl777, not approved for anybody not familiar with MGW (yet).’

SuperNET now has one of the most active communities in the cryptosphere, with over 100 people and 10,000 messages on Slack every day. There are something in the region of 2 dozen SuperNET devs – without counting the people carrying out tasks such as project management, running servers, communications, etc.

‘I am becoming smaller and smaller part of SuperNET. Like it has to be’, James writes. Read on.

Topics

Supernet.org launched

Pangea

Asset dividend sent

New services and dividends in the pipeline

Jay

Omnigames

[Funding Request]

NXT Freemarket

VRC

BTCD video

NXT turned 1 year

Other coins (integration)

jl777 nominated for POH award

Testers wanted

SuperNET darkweb?

Development Update

Press

SuperNET related links

Supernet.org launched

lootz has coded the site, which has now been launched.If you are involved in SuperNET in any way, please PM lootz in Slack and let him know what you are doing so he can add your profile to the site. Include a picture you would like to display (and have permission to use) and around 100 words describing your role in SuperNET, plus any other relevant information.

Any suggestions to improve the website are highly welcome, it is an open project 🙂 Please contact lootz or noashh.

Pangea

Pangea is SuperNET’s decentralised poker application. It uses provably random numbers and will take advantage of the built-in privacy features of SuperNET. 80% of Pangea’s revenues will be distributed to assetholders.

5000Bitcoins writes: ‘I’ll be project lead/business developing/marketing and all things needed for Pangea. I partnered up with jl777, and also valarmg who completes on the things I can’t do. To simplify, when I bring the business side, valarmg brings the poker side, in between we meet to create the best product for both the player and the shareholder.

‘I looked for a GUI developer for the project for about a month, good GUI developers are surprisingly hard to find, and finally found Hobofife, who will do the GUI, he started earlier this month.

‘I registered the domain, pangeapoker.net which will be used later, just for downloading the client when released, figured those not accustomed to bct/nxtforums would be more comfortable going there.’

Valarmg adds: ‘I played as an online professional poker player for 6 years to decent success. I’m also an electronic engineer with programming experience and coded the Dividends+ module for NxtServices/SuperNET. I’m going to be coding Pangea Poker.’

The dividend has now been paid to holders of SuperNET on Nxt Asset Exchange. BTer dividends will follow this week.

Other services and dividends in the pipeline

JAY

Jay (asset ID: 8688289798928624137) is a decentralised plug-in network (see fuller description at https://nxtforum.org/jay-framework/). The potential of this technology is wide-ranging. Possible uses include a plug-in store for downloads, multiwallet and generally allowing crypto to have a lower entry barrier due to avoiding the requirement of downloading blockchains. Monetisation details will be announced in the forum thread.

James writes: ‘Jay will allow people without any software on their system to run the SuperNET GUI and access all coins. I want this to be accessible from SuperNET.org, so it would just have the latest SuperNET GUI directly available from theSuperNET.org website. It wil do local client signing, so they can safely do money tx for any coin connected to the SuperNET, not just core coins!’

This is an important step towards mass adoption. Timing is not certain at this point, but it will need to take place after the v1 GUI is complete as it will modify this. Jones is carrying out the core work on this project and BTCDdev the applications/API. The GUI dev will hopefully be announced soon. Jones writes: ‘The gui may have a few differences from the regular client one on account of being a litewallet, but for the most part, it should have full access to superNET.’

Omnigames (asset ID: 7441230892853180965) will develop freemium mobile games that use cryptocurrency for in-game purchases, starting with Bitmark (BTM). The goal is to bring mass market fiat users into crypto and to create popular games that different coin communities can customise.

80% of Omnigames revenues will be distributed to assetholders. 20% of revenues will go to marketing affiliates, with Privatebet handling the SuperNET players for omnigames. https://nxtforum.org/nxtventures/omnigames-asset will have the latest information

James comments, ‘The 20% of revenues for the marketing affiliates will flow through Privatebet as that is the gaming umbrella asset. This allows a gaming sector investment that diversifies across the different games whose dividends/revenues will flow through Privatebet. So, if you aren’t sure what type of games will do the best, but want a gaming asset, then Privatebet is the one.’

All in all

James also comments on the effect of SuperNET’s growing community of developers and contributors, and the projects they are bringing to the SuperNET:

‘I estimate the marketcap of the three assets will be around 100 million NXT and SuperNET has 40% of this. The amazing thing is that at the rate the SuperNET team is growing, it might be possible to do this reasonably often. People outside slack probably don’t understand the impact (and math) of this sort of thing. 40% of 100 million = 40 million NXT / 816K = ~50 NXT asset NAV increase, assuming the 100 million total is achieved. Since, even during bear market the assets like Atomic, neoDICE and Freemarket are in the 25 range, the 100 million estimate is not unrealistic at all.’

[Funding Request]

250000 NXT has been requested for seed funding for Omnigames and 1,000 SuperNET assets as a bounty for l8orre to complete the SuperNET test suite. A further 10 BTC has been requested to obtain a stake in a new coin, to be disclosed at a later data.

NXT Freemarket

Nxt & SuperNET’s decentralised marketplace continues to attract interest, and now btcddev has built a lite web version of the market. You can browse, buy and sell items directly from https://freemarketlite.com.

No client, no blockchain download. No Nxt Wallet needed. Open your browser and go to freemarketlite.com, that’s it. You still need NXT in an account to buy something of course.

Developer poofknuckle is working on a variable pricing function: ‘Let’s say you want to get the equivalent of USD $20 for an item. So, you specify that, and when the UI displays a price in NXT, it gets the exchange rate and displays the right amount of NXT. And it does it again when you click through to buy.’

VRC

A new wallet has been released for VRC. Users just need to import their wallet.dat file. There are further instructions on the forums: http://www.vericoin.info. VRC will be the currency used for billing and paying for cloud storage.

James will be adding autoconversion between the SuperNET core currencies (and BTC). The SuperNET will act like a mining pool as the revshare will be converted to VRC.

The Nxt blockchain turned 1

Nxt.org has therefore been completely updated by Nxt Organization, and Nxter.org will run a campaign over the next weeks with an article series about Nxt CORE use cases, a realunch of the famous NXT Newsletters, and a 1000 NXTP give-away to randomly picked Nxt Newsletter subscribers. NXTP’s are netprofit shares given to all contributors to NXTER.ORG.

Congratulations, everyone involved in the NXT community, which does mean all of us, right. 🙂

Other Coins (integration)

A ‘passthru’ API call has been added to allow non-SuperNET core coins to access the features of SuperNET. This adds enormous versatility to SuperNET, in that any coin community can now customise it and use it for their own coin, if they wish.

James writes, ‘If there are specific functions that you want to make into SuperNET API, you can code it up and I can merge it in. In SuperNET.conf, the “coins” array describes how to interface to a coin’s daemon and there is a bitcoind_RPC function that invokes it via RPC, so within SuperNET you can call your daemon and encapsulate this in the SuperNET JSON API. Once your coin/service has an API, then with an HTML5/Javascript panel in the SuperNET GUI, all users of SuperNET will have direct (and easy) GUI access.

‘Just like we enhance the NXT GUI into SuperNET, any coin can enhance the SuperNET reference with their own features. Assuming it is a cool feature then SuperNET would be wanting to make it part of the reference release.

‘I think with a “passthru” API that sends the JSON to a coin daemon (even remote), it will simplify coins connecting up to SuperNET. They can update (or fork reference SuperNET GUI) and enhance the SuperNET with their coin’s features. Only their community would have all the code needed to use their coin’s functions. For the ones that have functionality that we want in the core, it then becomes a matter of merging the code and putting it into the reference implementation.’

‘Almost have the remote working. conceptually anyway. in the SuperNET.conf, there will be a “remote”:[] array, both at the highest level and within each coin entry. if a method is in a remote array (global or coin specific), then remote requests will be accepted and the result sent back to the one that initiated the remote call. this is the mechanism that allows any coin access to any other coin’s RPC, even if they are not running that coin locally.’

jl777 nominated for a 2014 Proof Of Honour award

James has been nominated for Coins Source Proof Of Honour award for his work on SuperNET. evok3d writes: ‘Congratulations jl777 and community, you have made it to the voting round. Your work to unite coins and in turn create something fully decentralizes has been inspiring to follow. Hope this can bring more communities together.’

QT Testers wanted

Testers are needed. Contact bassguitarman on Slack or in SuperNET forum.

SuperNET darkweb?

James has added support for saving simple webpages to the cloud. This builds on existing functionality and enables encrypted files to be distributed across the SuperNET network and restored on an M-of-N basis (see basic documentation at https://forum.thesupernet.org/index.php?topic=264.0). Once published to the cloud, a 64-bit value is returned and the page can be viewed in a regular browser from http://127.0.0.1:7778/

This is currently at proof-of-concept stage. As it stands, this offers limited functionality compared to the regular web, but is an intriguing step towards creating a SuperNET web. As James suggests, ‘probably low bandwidth streaming might even be possible.’ As more developers come on board, they will likely build on this idea and create new and exciting applications with it.

Development Update

James:

I am currently waiting on some tech from others before I can proceed debugging most effectively. So rather than be inefficiently debugging, I figured I would cleanup the MGW codebase and while doing that I thought I might as well integrate it into SuperNET API.

I got the deposit side coded and mostly debugged already, but the withdraw is always toughest…

Anyway, the MGW maintains what is very much like the private blockchains that the peer to peer Teleport needs, and I plan to leverage this code for InstantDEX order clearing also. I estimate that after the SuperNET API gets the MGW functions, the MGW servers will take less than 1000 lines of code. It will also allow anyone to setup their own multisig addresses for whatever they want to use it for, eg. escrow.

A bit unexpected to be doing this now, but turns out it will solve some of the pesky accounting things that needed to be done eventually, so that explains the big drop in github activity. Coding locally as it is a lot of code to be moving around and it is in an intermediate non-working state now.

Press

SuperNET and its component services are starting to draw more attention from the crypto community.

Welcome to the SuperNET. A SuperNET alpha client release v0, the SuperNET v1 team defining the next and official release, NXT Freemarket update, MGW production servers running, a decentralised poker project coming together, and 100+ supporters and programmers active in Slack – it’s time for another update! This is SuperNET Newsletter #7.

Topics

SuperNET client v0

Multigateway

How MGW works

Coinomat

Freemarket update

SuperNET Tech Tree

InstantDEX

SNN

More about BTCD

Where’s Wally?

STASH

Development Update

SuperNET code review

SuperNET related links

SuperNET client v0

A preliminary SuperNET client (v0) has been released. This is an enhanced NXT wallet that includes the Multigateway, so can replace the standard NXT wallet with no loss of functionality. v0 is a standalone software: just install once and enjoy the combined features of Nxt and SuperNET.

Current features include the NXT client, Multigateway, Coinomat exchange, Dividend capability and Voting. v0 is the first raw version of the SuperNET client. Further features like BTCD teleport, neoDICE, CHA’s casino and so on, will all go inside this package, so it’s essentially a NXT client release with SuperNET-related functionality.

All NXT’s 2.0 features, like the Asset Exchange, encrypted messaging, the Alias System and Nxt Marketplace, are also available from within the client. To download the SuperNET v0 client, go to https://forum.thesupernet.org/index.php?topic=247.0
Screenshots: http://imgur.com/a/bljE4#0

Further features will likely be added in a rolling release until the ‘official’ SuperNET v1 client is launched, around Christmas.

The Multigateway (MGW) is NXT’s distributed cryptocurrency exchange platform. It enables users to send coins to the MGW’s secure servers, in return for coin tokens that can be traded against NXT on the Asset Exchange. The coins are kept in multi-sig addresses, whilst the NXT assets representing other coins (mgwBTC, mgwLTC, etc) are stored on the blockchain. Three servers operate for each coins, enabling trustless crypto-to-crypto transactions.

There are currently six different operators in Multigateway, as different coins are housed on dedicated and hardened servers run by different parties. As further coins are added, more server clusters will be required.

James will keep a seventh development server online for as long as Multigateway users move to SuperNET UI and production servers.

For more information and a download link, see the SuperNET v0 installation guide:
https://multigateway.org/user-guide/installing-the-software/

How MGW works

MGW creates a unique deposit address for your account, for each of the supported coins. When you send coins to that deposit address, MGW will deliver the same quantity of coin assets to your NXT account (for example, 1 BTC will become 1 mgwBTC asset).

All the MGW deposits are held in multisignature accounts matching all the released assets 1:1 – there is no fractional reserve here! Coin assets can now be traded in the NXT Asset Exchange like any other asset .You can buy them with NXT, sell them for NXT and send them to any other NXT user with the fast speed of the NXT network. MGW allows you to withdraw your coin assets back into your corresponding coin wallet, with the lowest withdrawal fee in the market – equivalent to the minimum transaction fee for the coin.

What are the advantages?

MGW is significantly more secure than a centralised exchange, with no single point of failure. It is also far more cost-effective to use.

In a multisignature account, the same address has several associated private keys or signatures. This means the servers have to agree, each of them providing their signature, in order to process the coin transactions – in a similar way to a joint bank account. The use of multisignature accounts and independent servers makes MGW more secure than any traditional centralised exchange account.

IMPORTANT NOTICE TO EXISTING MGW USERS

The production servers use a new asset ID for mgwBTC. Existing owners of mgwBTC need to swap their old assets by sending them to a special redeem account. This will automatically send back the same amount of the new mgwBTC asset.

The old mgwBTC asset (4551058913252105307) can of course still be traded in the existing market in the Asset Exchange, and users running a previous version of the software will be able to withdraw these through the old servers for some time. However, we recommend you update your assets for a greater stability and growing activity in the service.

Coinomat

Another SuperNET CORE service which has been integrated in the preliminary SuperNET v0 client is the Coinomat tab. It enables you to exchange your Bitcoins directly in the client.

With the SuperNET v0 client running, you can also trade assets on the Nxt asset exchange. Coinomat offers CoinoUSD (asset ID 12982485703607823902, a USD-tied asset. 1 CoinoUSD always holds the value of $1. It’s traded against NXT on the asset exchange, thus creating the first NXT/USD decentralized market, it can be traded for BTC/NXT/XMR on the centralized exchange Poloniex, and you can buy and sell it using Coinomat services.

SuperNET Tech Tree

Work has just started, but here’s a taster of what’s cooking: ThomasVeil’s interactive “tech tree”. This will provide an overview of how SuperNET, its services, coins and dividends to its asset holders works.

InstantDEX

InstantDEX is a core service for SuperNET. It will allow near-realtime exchange of one cryptocurrency to another. This will have huge implications for trading, since delays will be reduced to near zero.

A further tool to help manage the InstantDEX order book in the future will be tradebots. These will be user-programmable and will run on the user’s node, customisable for the individual’s needs. One use case might be the conversion of dividends from one currency into another; a tradebot could be set to carry out the exchange at a target price. All of the functionality will take place in the background, making it extremely convenient for the end user.

Naturally this raises issues of liquidity between different coin pairs; obviously users do not want to have to pay for large spreads. James writes, ‘I plan to create 1% spreads between all the SuperNET core coins in native and telepod form and mgwCOIN form, so you can go from one to the other to the other, and the tradebots can be programmed to suit your goals.’

On the technical side of how this will work, James writes:

I had to figure out how to index into DB with duplicates properly, and also add in special cases to the DHT to support InstantDEX orderbooks.

The method is as follows:

A. an orderbook bid or ask is submitted using the standard DHT store and this is processed normally.

B. as this is processed, various nodes do a localstore into the public.db on their HDD. When this is done, the raw data is checked to see if it is an InstantDEX quote and if it is, an automatic update is triggered.

This update allows one bid and one ask per account, which has the effect of preventing the orderbook stuffing.

At this point, the node that is closest to the key value of (baseid ^ relid) will have an up to date orderbook and the normal orderbook function should display it properly.

Of course, this does no good for most all people, so we also need to support returning the full orderbook via DHT findvalue call. The problem is that there is no automatic way to know if a key value is for an InstantDEX orderbook. So, using a similar method to overloading the findnode command with a datastr, I added a datastr to find value.

This would just be the “orderbook” API command, which needed to have an “oldest” field added. what that allows is for the nodes that have data to send back to filter it so only the new data is sent.

When this is all debugged, all nodes will be able to get an up to date orderbook as quickly as a DHT command can be processed. Now, even if this is taking 10+ seconds, odds are that the same accounts are having the best offers and really that is the most important as the exact trade matching is done peer to peer.

InstantDEX is an absolutely critical part of making crypto frictionless for the end user, so it is extremely encouraging to see the progress being made here.

SNN

The SuperNET News Network is coming together, with the backend currently in active development. When it is finished, it will allow for multi-tiered management – one senior writer will be able to manage multiple junior writers. This means that one Editor in Chief can manage a whole staff in a streamlined, automated way.

In the meantime, writes fumanchu88, ‘SNN will be more akin to a standard news platform but with a backend that makes management and payroll open and transparent.’ Features will include:

Automated payroll based on social weight of each article

Tiered management (posts are sent to an editor for clearance once when ready to publish)

Automated Advertising Intake (advertisers can sign up without previous contact)

Payment is always tied to the site’s earnings in the relevant pay period, so there are strong incentives for everyone to promote the site and work together. Contributors will not have to pay to post content; they will simply post their articles, promote them as best they can and interact with comments, where appropriate. The system will do all the weighing, with payout once a week. Regular writers will therefore receive regular pay in NXT and/or BTC.

More about BTCD

Last week we took a closer look at NXT, one of the core coins for the SuperNET. NXT offers versatile 2.0 functionality, and many of the SuperNET’s features are built on top of NXT. But the SuperNET equally could not exist without BTCD.

BTCD provides the secure network that will enable private communication, anonymous transactions and much else besides. BTCD’s infrastructure is a peer-to-peer network similar in principle to file-sharing networks such as BitTorrent (in fact, secure file-sharing will be one of the future revenue-generating applications of the BTCD network, since it enables users to rent out spare hard drive space for others to use).

BTCD’s Telepathy protocol (you can read more about how Telepathy works here) offers privacy advantages over and above anything else currently on the market. All communications are end-to-end encrypted, so that no one else can read them. However, the real step-change in privacy is the use of deaddrop addresses for secure communication. In other peer-to-peer networks, nodes send packets to each other, which requires them to know the IP address of the recipient. This constitutes a leak of information, and a well-resourced attacker would be able to tell who was communicating with whom – which could be as important as what they were communicating. Deaddrop addresses are owned by no node, and so the packet is never ‘delivered’ to this recipient. As it is being routed, though, it is handled by many different nodes – but it can only be read by the node for which it has been encrypted. This is a little like being able to send an email without anyone (including the sender) knowing the address of the recipient.

BTCD wallet

A new BTCD wallet based on the NXT-Inside concept is currently in the works. As well as being user-friendly, this approach will allow stakers to be paid dividends from SuperNET (James offered stakers dividend payments from InstantDEX before developing SuperNET). To preserve privacy and ensure payments cannot be linked to other accounts, dividends will be converted to BTCD before distribution – placing a gentle, constant upward pressure on prices.

Where’s Wally?

During the recent sell-off of the alts, questions were raised about why BTCD prices were dropping so much despite the tech being developed. This was partly due to one of the original large holders from the mining stage cashing out their stake. Since then, a bot has been detected, manipulating the BTCD market. This bot is active on many different alts, but since BTCD is comparatively thinly-traded, it has had a greater effect. James writes:

There is a bot that is ACTIVELY manipulating the price, quite effectively too. If you look at the price on bitcoinwisdom, you will see that there is a pretty even spread of asks all bunched together, within 10 satoshis!

About 5 BTC. This makes a barrier and also crowds out the orderbook so you can’t see what is really going on. It is also changing things several times per second to create the impression of a lot of activity. What it does is pushes the price down by clearing out small bids and making lower and lower asks.

Earlier there was about 10 BTC in 30+ orders around .0049 and 3 BTC between that and .008

So, there is no investor panic going on. It is just one guy running a bot. And he is doing this on many different coins.

His game is this.

Have the bot on bittrex and cryptsy, but run just one of them at a time. Create some FUD, push the price down on one (easier to create fear, especially in a bear market), then as people get convinced everybody is selling, they start selling. Remember this is just happening on one market. So soon the sell price on one exchange is lower than the buy price on the other exchange where the bot is idle. Guaranteed profits! Then the bots switch.

So first one exchange price is pushed down, arbitraged, then the other. Doing this it creates these mysterious price declines as we are making such good progress. All the way down to .005! But there was really very little for sale below .008 as this operation is being done on dozens of coins, so only so much budget per coin.

Now this bot is not caring about price at all. Whatever the price is, it just picks the exchange with the lower price, pushes it down until it can arbitrage. The arbitraging evens the price out and then the pushing starts again. Now this bot stays away from even a 1 BTC wall from what I have seen and certainly anything larger it stays about 10% away from. However if there is no big wall, it happily starts pushing the price down, even filling some orders if they are small enough.

These bots are probably on autopilot, so that means a clever person will be able to trick the bot.

Stash: mass-market BTCD application

Cryptocurrency offers significant advantages over fiat money, but adoption has been slow in comparison to expectations. Part of the reason for this is that cryptocurrency is still too complicated for general use (something that the SuperNET GUI aims to address). However, many people are not really dissatisfied with the service provided by banks and payment processors; crypto is consequently seen as an ‘answer without a problem’.

BTCD’s secure communication capabilities offer the chance to market it in a different way. Most marketing initiatives start in crypto and reach out to mainstream users, with a limited degree of success. The Telepathy network has direct and immediate application to the mainstream. Every week there are more stories of hacked databases, large-scale harvesting of personal data by big corporations, and ever-more intrusive government surveillance. The majority of internet users recognise that their data can no longer be considered their own: everyone has an online footprint, and with the right tools this is almost as transparent as the blockchain.

The Stash concept aims to apply BTCD and SuperNET’s functionality to these problems. A series of related services might be offered to users, including private messaging and secure storage on the SuperNET network. If customers wanted to purchase further services (more storage, for example), they would have to do so using cryptocurrency. The transaction would be made as frictionless as possible using SuperNET’s integrated Coinomat plugin or other services. The Stash wallet would essentially be a highly-simplified BTCD/SuperNET wallet, offering minimal functionality.

The concept is still in its early days but has the potential to draw in a large number of new users from outside of current crypto circles. At the very least, this would strengthen the network and provide many more peers. In the best case scenario, a proportion of these new users would learn about and use cryptocurrency, starting with BTCD and SuperNET.

You can see a holding page at www.Stash.xyz. For more information or to offer help and expertise, please ask on the Slack channels.

Development Update

Things are coming together fast with the v0 release, and more on the way soon. James writes:

‘I have most all of the API needed for v1 released coded and now entering the painful systems debugging stage. The nature of the work changes now to making bugfixes instead of writing new code and just getting everything to work at the same time, along with performance improvements.

‘Still need more testers, but I am acting as the first tester since I rely on the API calls to get the basic functions working. Not sure which will finish first, my debugging or the GUI and websites, but probably pretty close race.

‘The telepathy is not 100% reliable, but it is working most of the time when you are nice to it. Got things a lot more stable at the low level and that allowed a couple of BTC teleports, but this exposed some state machine bugs. Not surprising as it is quite tricky and first time the entire process is being tested all at the same time.

‘Need to think about how best to integrate the InstantDEX with Teleport. I keep alternating days, working on one, then the other, pushing them closer and closer. One of these days I will be able to get them both playing nice with each other.

‘Pushed new version that supports gathering prices into databases and also retrieving this data. bter, poloniex, bittrex, NXT AE and even mintpal [mintpal has been removed until further notice because of this unfortunate situation] is supported.’

‘Now each user can gather data for the crypto they are interested in and this creates the reference prices to overlay on the InstantDEX orderbook. took a bit longer than I had hoped to get it stabilized as I had to serialize all accesses and avoid deadlocks. Systems stuff is quite tricky and feels like not much progress, but now at 2% CPU usage, it is able to handle all the packets and gather price data.’

Code review

Bitcoin privacy and security expert Kristov Atlas currently undertaking a code review of SuperNET. As James comments, ‘With nearly 40,000 lines, there will be bugs and parts of it I don’t like at all…’

Meanwhile Zahlen has started to analyse the maths and will add material further to the white paper in due course.

In this edition, we’ll be digging a little more into Nxt, as well as some of the assets that James gave to SuperNET. These assets were previously mentioned (in SuperNET Newsletter #3), though not explained in detail. There are also some new announcements and developments, as always.

Topics

Market

neoDICE

MGW

NXT Freemarket

NXTweb vs CoinEvolve

SuperNET assets explanation

SuperNET CORE: NXT

Development update

SuperNET demo

Telepathy whitepaper

Your Supernet needs you!

SuperNET related links

Market

Despite the recent bear market in Bitcoin, which has badly affected the alts, SuperNET/UNITY price is still within 15 percent of the ICO price – probably one of the best performances over the last month, considering how much everything has lost. James writes,

‘Remember that SuperNET is spending 1% on things like all this development, not 100%, so ignoring market fluctuations, the NAV will remain. The revenue projections are quite difficult to make and I priced it at 0 due to this. Long term, with a big user base, then of course the revenues will be quite significant, but this requires a lot of work, progress and most importantly cooperation among all the coins.’

‘With SuperNET, we have financial ties with the core coins and this will be needed to ensure continued cooperation, especially if we are in a prolonged bear market. What is easy to join, is easy to unjoin and I much rather have few coins with long term commitment to build upon. Only the coins that want to be featured in the SuperNET GUI and getting the cross promotion and technical integration, need to let us buy 10%. If they just want to use the SuperNET services, any coin can do this. Coins without redeeming features wont benefit from being part of SuperNET as nobody will use them.’

neoDICE

NeoDICE was the first asset dividend to be paid to SuperNET holders. NeoDICE is a fair betting game that runs on the NXT blockchain. It is based on the immensely popular satoshiDice, though with a few differences – the most important one being that neoDICE processes unconfirmed transactions, making gameplay near instantaneous.

NeoDICE does not require any additional registration or authentication than a NXT account number. To determine winning or losing bets, it calculates the SHA-3 hash of a combination of the transaction ID and a daily secret (a number unknown to the player). The previous day’s secret as well as the hash of the current day’s secret are published, providing for an easy way to verify the outcomes of wagers: everything is visible in the blockchain.

NeoDICE is based upon know-how from NXT’s Come-from-Beyond, but is being actively coded by several developers represented by hash. Come-from-Beyond and jl777 are project consultants.

100% of neoDICE revenues will be distributed to assetholders. This indirectly includes SuperNET, so UNITY holders will receive dividends from neoDICE. It will initially be playable as a NXT client plugin, and will later be included in the SuperNET GUI. Finally, it will also be released on a standalone neoDICE website, allowing gameplay without a NXT client. ETA is December 2014.

NeoDICE is traded on Nxt AE (asset ID 18184274154437352348) if you want to load up before launch.

MGW

The Multigateway (asset ID 10524562908394749924), NXT’s distributed exchange, has previously been running on James’ servers. This is about to come to an end with the move to production servers.

VanBreuk writes, ‘The Multigateway production servers are working and they will be open to users as soon as stress test cases are finished and a new GUI is available. We have made the first BTC deposits and withdrawals. Processing time has been 45-60 minutes in both cases. So we hope these times around the hour mark will be the norm. Almost ready…’

The Multigateway will provide a key part of SuperNET’s functionality, since – in conjunction with InstantDEX – it will deal with all the automatic exchanges from one currency to another.

NXT Freemarket

NXT Freemarket (asset ID 134138275353332190) is a decentralised online marketplace that enables free, global, private trade of any goods and services, with low fees and no interference.

FreeMarket lives on the NXT blockchain, so there is no single point of failure. It is resistant to attack by anyone who would deny you your right to trade peacefully. FreeMarket automatically encrypts messages between buyer and seller, keeping your information private. No IP addresses are logged anywhere. Payments via NXT are built right in. No need to leave the app to send a payment, no need for PayPal or another third-party payment processor who has your private data.

NXT freemarket has been in BETA since mid September, so it has been in the wild and tested. The developers have announced that they have an update scheduled on 9th of November. After this release, the promoting of FreeMarket starts.

20% of FreeMarket listing fees (7.77 NXT per listed item from 2015) will go to SuperNET.

NXTweb vs CoinEvolve

All agreements between SuperNET and coinevolve are hereby terminated due to abandonment by Chris Sommers.

James

Even though there was never a direct partnership between SuperNET and the abandoned CoinEvolve project, unlucky buyers of EVOLVE and EVOLVE2 can claim free NXTweb assets.

An arrangement has been made with Christian Sommers, who has now transferred the source code for his websites to POPPP from the French Nxt Community. POPPP is overseeing the modification of the code and ensuring that the sites are set up.

James comments:

It is quite clear Chris Sommers is a scammer/criminal
I suggest that people that want to prosecute him do so in the fiat world.

POPPP has stepped forward to do the work required to create sites in the same general area as the coinevolve sites. I will do a SuperNET deal with POPPP for his asset and donate my evolve assets I ended up with to POPPP so he will have a meaningful ownership of the new asset.

The first NXTweb site is already live. It is a crowdfunding website: www.nxt-starter.com. Payments are initially accepted in NXT and BTC through coinpayments.com, but the site will be heavily developed over the next two months to take coinpayments out of the loop and accept more currencies. Two more websites will be built from Chris’ source code: a freelancer website and a microjob website. More sites are planned for NXTweb in the future. James is acting as an adviser only and will not build any tech for NXTweb.

SuperNET will receive 25 percent of NXTweb’s NET profit.

There are 1 million NXTweb assets issued. (asset ID: 18052454258090117553). 65 percent of the NXTweb assets are being given to the scammed CoinEvolve investors. Owners of EVOLVE and EVOLVE2 can send their assets to NXT-HTM9-BEPZ-28NP-A4AEK. For more information, see https://nxtforum.org/assets-board/(ann)-nxtweb/

SuperNET assets

James donated a number of assets to SuperNET. These will form parts of the core services, value and functions of SuperNET. You can read more about all of them on the NXTventures board of the NXT forum. Many of these assets are interlinked and own proportions of each other.

The tech is almost complete and will be integrated into SuperNET so that users can enjoy fast, automated conversions between one crypto and another.

SuperNET owns 241,485 InstantDEX.

InstantDEX fees will flow through these and be dividended out to SuperNET investors.

NXTprivacy (asset ID 17911762572811467637) contains all of James’ privacy-related projects, currently 50% of Privatebet, 30% of the Anon ATM card (cryptocard) supplied by Coinomat, and also 0.1% of Teleport fees will flow through NXTprivacy into SuperNET.

SuperNET owns 241,485 NXTprivacy.

NXTprivacy dividends will flow through these and be dividended out to SuperNET investors.

Privatebet (asset ID 17083334802666450484) enables fully decentralised, peer-to-peer betting, with publicly verifiable results. This paves the way for sports betting and casino applications, all of which will pay dividends to Privatebet (and SuperNET holders through NXTprivacy). The ‘house edge’ for neoDICE will be around 1 percent, and this is likely to be standard.

Cryptocard (asset ID 7110939398145553585) will be a way to bridge crypto into fiat. These SuperNET cards are normal MasterCards and will have a $1,000 per day limit. The cards have been ordered. At the moment these are ‘half anon’ cards: A photo ID card is required for – but no banking information. There is being worked towards finding a full anon solution.

1% of the processed transaction volumes will be transferred to the assetholders.

Tradebots/nxtcoinsco (asset ID 17571711292785902558) is an asset that will allow people to create their own custom tradebots.

James writes, ‘I plan to allow tradebot writers to publish and people to subscribe and they share profits. People would subscribe to XYZbot and only pay if it makes profits and they only pay a portion of profits. Of course, the XYZbot could lose money, but all the performance stats would be tracked so people will see historical performance. No profits, no payment, so the tradebot writers are fully incentivized to create profitable tradebots. Eventually there will be dozens of proven tradebots and like for the forex world, people can see how many subscribers each one has, how much the bankroll is, etc.’

SuperNET owns 241,485 Tradebots/NxtCoinsco.

NxtCoinsco dividends will flow through these and be dividended out to SuperNET investors.

NXTventure (asset ID 16212446818542881180) is an incubation fund that invests in and spins off other promising crypto assets. NXTventure pays dividends in the form of these assets, thereby giving investors a piece of the next big crypto asset.

James has recently announced that NXTventure and SuperNET will be releasing combined dividends. The NxtInspect dividend was an example of assets distributed to SuperNET holders through NXTventure.

There will not be a full overlap between the dividends offered by NXTventure and SuperNET.

SuperNET CORE: NXT

As you will know, a small number of coins make up the SuperNET core.

If BTCD is the highway that connects all the stores, entertainment centres, financial services and other features in SuperNET, then NXT is the 2.0 engine that allows users to access them all.

Rather than simply being a cryptocurrency, NXT can be considered a complete financial platform. The Nxt Asset Exchange, which is built into the client, allows users to issue, buy and sell shares in virtual or real-world companies, and receive dividends (NXT, other assets or even other currencies through Multigatewaytokens for BTC and other coins). It’s the ‘coloured coins’ concept you may have heard about, but being dealt with in a very intuitive and user-friendly way.

Nxt’s arbitrary messaging system (AM) is also used – and for more than just simple messaging (plain text or encrypted). For example, instructions are passed to the Multigateway using AMs. The Nxt Alias system allows accounts, websites, telephone numbers and more to be linked to a simple reference label; Hyperboria’s Meshnet project already makes use of this feature. The Nxt Marketplace (formerly known as Digital Goods Store or DGS) is a decentralized NXT store that allows users to trade digital products directly through the NXT Client; whereas NXT Freemarket is the third-party application that reaches into the physical world, like a decentralised eBay. The Monetary System (MS) is scheduled for release later this month, and will allow the easy creation of customized digital currencies on top of the Nxt blockchain and backed by NXT.

These and other third-party services like neoDICE offer a wide range of functionality and open many possibilities for SuperNET. For a more comprehensive overview of Nxt, take a look at the NXT Technology Tree.

Development update

James is coding hard, and the features of SuperNET’s GUI are taking shape.
There is still plenty to do, but basic SuperNET functionality is now almost complete.
SuperNET development is on track, with initial release still scheduled for the end of the year.

James writes:

‘Finished all the GUI interface API for settings and general command flow, even start/stop so the GUI can stop and restart SuperNET. With a GUI to create the SuperNET.conf, it will be much, much easier. Also, this allows for a debug console, which will speed up testing, and building buttons and forms on top is just a matter of figuring out what buttons and forms we need.’

‘Most importantly all the telepod (money!) is using a berkeley DB so short of computer totally exploding, the data should be safe or at least recoverable. ]I am leaning toward automatically backing the telepods in the encrypted cloud so there are two copies.’

‘I split out the SuperNET into a separate executable for two main reasons. It makes it much easier to build as it doesn’t have to be built into BitcoinDarkd. With the boost, C++ vs C and all sorts of build complications on Windows, this reduces the problem to just building SuperNET on Windows. I already built SuperNET for Mac, but having problems with boost so can’t build BitcoinDarkd or QT on Mac yet. The second reason is that this allows other coins to also be in the system and the SuperNET requests are properly serialized through the https interface.’

‘If all goes well, by next weekend I think I will be doing the loose ends, but that means we will have nice core functionality as soon as GUI and OS builds are ready. So not a lot of external progress, but the internals are now split into two independent executables with mechanisms for master/slave type of setup, and other coins can just call into SuperNET directly. Now with DB reliable and reentrant, progress should be fast as that solves the reliable storage for money things like telepods, private messages, public cloud and also price data for tradebots.’

‘The new DB design made it so the old InstantDEX code was not quite right. I ended up rewriting it and most of it is gone! this is good as the less code, the less bugs. Still not fully debugged, but via DHT all orderbooks exist in the cloud.’

SuperNET demo

If anyone has doubts that development is progressing fast, anyone with minimal knowledge of linux can install the command line version and start playing with SuperNET. The installation instructions have been significantly simplified in recent weeks (full instructions and discussion available on the Slack boards). James provides these instructions:

Of course, this is still command line and it isn’t using the best practices as the maketelepods creates traceable telepods, but it is quite a lot of what needs to be working.

James
###

White paper

Finally, a draft white paper for Telepathy is available. Telepathy is the secure communication system that underpins BTCD and the SuperNET. It works similar to BitTorrent’s peer-to-peer network, with a few critical differences. ‘Dead drop’ addresses are used – locations in network space that are not owned by any peer. Since many peers handle a packet on its way to the dead drop, it becomes almost impossible to tell who it was originally meant for.

The white paper can be found at https://copy.com/x4mYj7Cy9tNtwwXg.

Please do read and comment. All feedback is welcome.

Your SuperNET needs you!

James is working hard on the code, and many other people have joined the Slack channels where a huge amount of discussion, feedback, marketing and development are happening. We have approaching 100 people on Slack, and over 10,000 messages weekly. However, the more people get involved the better – there are always gaps, and more eyes and pairs of hands will make things move faster. Just ask for an invite if you want to help.

James writes, ‘I keep coding away and making progress, but there is only so much I can do and it will take the help of the community to fully actualize SuperNET. In fact, once my low level work is done, then I really become much less important and that is my goal.

‘Next year I want to be the leading SuperNET applications creator. By making dozens (yes dozens) of SuperNET reference applications, I will demonstrate how to make money via SuperNET. Similar to what I did with the NXT AE. Instead of telling people via fancy graphics and press releases, I will just do it and let the market decide how much they like it.’

Website

Email addresses info@supernet.org and coins@supernet.org are working now. We are moving from thesupernet.org to supernet.org step by step…

Beyond Bitcoin

BTCD and SuperNET will feature on the Beyond Bitcoin podcast this Tuesday/Wednesday!

[UPDATE]:

https://soundcloud.com/legendface66/beyond-bitcoin-19-supernet

SuperNET cards

The SuperNET cards (Nxt asset ID: 7110939398145553585) have been ordered!

SuperNET cards will be a way to bridge crypto into fiat. These cards are normal MasterCards and will have a $1,000 per day limit. At the moment these are ‘half anon’ cards: A photo ID card is required for but no banking information.

James comments,

half anon means that there is no requirement to link a bank acct/personal financial number to the card. however to get the bigger limits, the requirement for ID scan and utility bill could not be removed.

I expect a secondary market to form for these halfanon cards once issued. They have no risk to the one that signed up for it as it can be kept empty.

We continue to work toward full anon, but need to find a reliable vendor with acceptable limits and while we have candidates, the process is very slow. also, I think there is a good chance that there will be some independent vendors who can help, but this is all still being developed.

We will keep you informed and let you know when these ‘half anon’ cards are ready to ship.

### whale has negotiated 25000 CHA for 11.25 BTC, there are only 516,530 CHA total from its burn period.

chancecoin is a microcap, but with interesting tech and we plan to integrate CHA betting into the SuperNET GUI ###

VRC

VRC will be implementing the GUI and billing for the decentralised cloud storage enabled by the Telepathy network. The VRC devs will also be providing the ‘public face’ of SuperNET (since James has known to be a little cautious about that sort of thing). VRC’s Patrick, Doug and David are well known as some of the first crypto devs to reveal their identities publicly. In the future there will likely be many interviews, live events and other media where SuperNET will need a real-life representative.

James has also committed to developing new technological features with VRC in a previous deal, arranged before SuperNET was announced. These will offer new functionality to SuperNET when they are implemented, so inclusion at this point makes sense in any case. Read more here.

Marketing

BTCD is engaging a professional marketing company to help communicate the coin’s unique features and use-cases. SuperNET will inevitably benefit from this since it is one of the major ways in which users will be able to access different services with BTCD.

BTCD will have widespread appeal as a complete platform for secure, anonymous communication and transactions. Just some of the groups that we anticipate will be interested, plus potential applications, include:

SuperNET Radio Network (SNRN)

### SNRN will provide each SuperNET coin and entity (Affiliates) with a Website, uniquely “Branded” to them individually. All sites will have radio broadcasting enabled, access to “On Demand” archived SNRN programming, an “Anon Unity Chat” IRC window, and Crowd Funding capability. By reducing the budgetary pressures of building and maintaining an array of promotional tools members can concentrate on creating content and actively promoting. SNRN basically provides all the tools needed to “Get the Word Out” by jump starting the promotion process. Any other services such as Forums can be implemented upon request.

Affilate productions will be scheduled into the 24/7 stream of “Flagship” Station supernetradio.com producing, for SuperNet/UNITY, the consistency of around the clock exposue while alleviating affilates from having to produce the volume of content to be effective in promotional ventures.

For the time being, Kevondo will be doing a live broadcast at 10 AM EST Monday to Friday, and past shows, interviews, and music will be streaming 24/7.

UNITY price

The recent bear market in Bitcoin has badly affected the alts, and there have been heavy sell-offs – including NXT and BTCD, as well as many NXT assets. This has opened the door to criticism about the tech, even though the same trend has affected almost all coins. James writes:

As the software gets more and more complete and it becomes clear to even the skeptics that it is just a matter of time before SuperNET is completed and working, the price will more fully reflect the value. Since I am doing something that hasn’t been done before, it is hard to accurately estimate time to completion, especially as I continue to improve things daily.

Remember that anybody can make any sort of crazy claim against me. I don’t have time to spend refuting all the silly FUD. For a while I was supposed to be some sort of pump and dumper, but it is hard to make any claim like that stick when I am not pumping nor am I dumping. I just keep coding and know that it is just a matter of time before the market catches up to what I am building. And now other coders are building on top of what I am building. GUI are being created. Websites and even new assets are being created and managed, etc.

For all the claims that I am dumping SuperNET, I can state affirmatively that I am only buying and have not sold any SuperNET/TOKEN. This reminds me of when I was buying BTCD at .00015 to .001, seems almost like I have an unfair advantage as I know the dev will deliver, while everybody else has some doubts… Considering the bear market everything has been in, including BTC, UNITY price is holding up pretty well.

BlockNET

Many of you will have noticed certain similarities between SuperNET and a new organisation called BlockNET. Whilst the latter is a constantly-evolving undertaking, it seems that there are several key differences. We would encourage you to visit the thread, ask questions and find out more for yourself about the relative approaches, if you are considering investing in one or both ventures. There has been much misunderstanding about both BlockNET and SuperNET and greater clarity will benefit everyone.

A key difference is the business approach. BlockNET is collecting money through their ITO to pay developers for their new software, whereas the SuperNET ICO funds are being held to provide stable value, reflected in the NAV (the value of SuperNET should not fall below the value of the currencies held). James is doing all the coding in return for an equity stake in SuperNET, and is also adding a large number of revenue-generating assets of his own (these total far more than the value of his own shares).

SuperNET ICO funds will also be used to purchase shares in coins and revenue-generating services. SuperNET is also entering into revenue-share agreements, without taking an equity stake in these. BlockNET will make money from the services it offers but the ITO money will not be used to purchase a stake in promising companies. SuperNET will also be returning income to coin communities, to stakers and for further tech development.

The philosophy of SuperNET is to align interests between SuperNET holders, coin communities and devs, and the companies that provide services. The money flow provides shared incentives for success, strengthening all of them and working for their mutual benefit. This business model was a conscious decision taken by James and offers a strong platform for future expansion.

Development update

James:

around 1000 new builds in last month. very busy coding

Development of the peer-to-peer network that will underpin BTCD and SuperNET has moved fast, with some fantastic advances. James writes, ‘I just finished rewriting Teleport using Telepathy and DB and now it’s 800 lines instead of 3,000. Once this is debugged, then all the other apps will come pretty fast as its just application level code without worries about system level, anon leaks, etc… getting close to code complete.’

As a brief overview/reminder:

Telepathy is a system of secure peer-to-peer communication

It is based on the Kademlia DHT, the same protocol used by BitTorrent

Teleport will also use this for anon crypto transactions

Telepathy is so secure that no one, including the sender, needs to know the recipient’s IP address. This offers a fundamental advance in privacy.

Telepathy uses ‘dead drop’ addresses that belong to no one. Messages are routed to these, and are handled by dozens of different nodes – but delivered to none of them.

There has been some misinformation spread about Teleport recently. To clarify, Teleport offers a completely trustless and decentralised off-blockchain exchange mechanism that is truly anonymous and private.

A white paper for Telepathy is available in draft form and will be published for review in due course.

Kademlia DHT’s role

DHT is the technology that enables Telepathy.

A Distributed Hash Table (DHT) is a kind of super-efficient look-up table that allows any node in the network to find the information it needs to route a packet to another node quickly.

The Kademlia DHT offers a couple of very interesting properties. Aside from being very efficient, it guarantees a packet will reach its destination due to the way it routes them (the ‘XOR’ metric).

Additionally, like other DHTs, the ‘map’ that shows where each node lies in network space is completely abstracted from the physical location of those nodes and their IP addresses. This is a little like the London Underground tube map: The map of stations bears little resemblance to the above-ground geography. It is simply a convenience to allow passengers to work out which line to use quickly and easily. So each node in the P2P network simply forwards a packet to nodes closer to the destination than itself – until the distance is zero, which means the packet has arrived.

In the case of Telepathy, since nodes are trying to deliver a packet to a dead drop address owned by no one, this will never happen. This does not matter though, since so long as the intended recipient gets to handle the packet, they will be able to decrypt and read the contents.

Close to the dead drop address, many other nodes are also being sent the packet – creating great uncertainty about which node it was meant for. An attacker cannot find out the IP address of the intended recipient, let alone read the content of the packet.

Unlike some detractors have claimed, this network is completely decentralised and peer-to-peer – like BitTorrent. IP addresses for nodes are known to others, of course (otherwise any routing would be impossible), but there is no correlation between a destination address and a node’s IP address. Users have a public account and a private one for secure communication – these private accounts are completelyunlinked to your IP address.

A new feature will be group ‘mining’ of dead drop addresses which are close to many nodes, to create maximum uncertainty in the eyes of the attacker about who the packet was meant for.

Since these addresses are best found by brute-force calculation, the process is actually very like Proof-of-Work mining. Once a good location has been found, it can be shared amongst many nodes that are close to each other. Rewards may be paid for this useful mining activity. Of course, no node using these shared addresses will be able to read the contents of a packet unless it has been encrypted specifically for them.

The past week has seen some exciting developments on the tech front, including Telepathy: James’ system for communicating so securely that even the sender doesn’t need to know who the recipient is! Since it has been a relatively quiet week in terms of new companies joining SuperNET, we want to take the opportunity to explain a bit more about the components and initiatives that make up SuperNET, knowing that many investors are still uncertain about various aspects of these. But first… a few announcements.

Topics

Chancecoin

SuperTraders

VRC funding request approved

NxtInside

SuperNET Client GUI

BTCD and SuperNET

BITS ATM

Code review and Telepathy

API calls and testing

SuperNET related links

Chancecoin

Chancecoin betting is planned to be integrated into the SuperNET GUI.

[Funds Request]

James:

whale has negotiated 25,000 CHA for 11.25 BTC, there are only 516,530 CHA total from its burn period.
chancecoin is a microcap, but with interesting tech and we plan to integrate CHA betting into the SuperNET GUI

Chancecoin is built around feedless, trustless betting, using New York Lottery Quick Draw numbers to resolve bets. Quick Draw numbers are drawn every four minutes, every day of the week. The drawing selects 20 numbers randomly from a pool of numbers 1 through 80, without replacement. A bet seen in the blockchain is resolved based on the first set of Lottery Quick Draw numbers that are published strictly after the block is mined, so it is not possible to game the system by waiting for favorable lottery numbers. Chancecoin is a coin and a casino. The casino features classic dice betting and poker.

Adding CHA to uMGW (Multigateway) is being looked into.

SuperTraders

[SuperTrader funds transfer notice]

Half of the SuperTrader funds will be transferred from BTer to Bittrex. Prices have recently dropped significantly across most of the altcoin market and this is impacting the stability of the core coins for SuperNET.

James:

The plan is to stabilize the prices with market actions and to provide inventory during supply demand imbalances. Over time, the gap between the buying and selling will also provide some gains.
(…)

In a bear market where drops of 30%+ for a lot of other crypto (including BTC itself for a time!) SuperNET is trading within 5% of the ICO price. Granted it is down from the post ICO peak but no more than all the other cryptos

I work to increase the value.
I rely on the market to eventually reflect the value
So there is no active pump campaign as that is counter to my philosophy.

When the market realizes SuperNET tech is going to work and revenues will start flowing, then the price will catch up to the value.

VRC funding request approved

The funding request announced in the last newsletter is approved.

VRC has committed to making a cloud storage GUI for SuperNET that allows users, companies and other coins to rent out HDD space to the cloud. James wants to provide a 50/25/25 revenue share from the cloud storage split between the user/VRC/SuperNET, so SuperNET users can monetise their unused HDD, VRC will create a revenue stream for their holders and SuperNET will gain a new revenue stream and increase its overall userbase.

5389.16 SuperNET assets from working capital has been swapped for 538,916 VRC, and 100 BTC is released for open market purchases to get close to the target level of 10% stake in VRC.

NxtInside

‘NxtInside’ is a Nxt initiative that aims to make the platform’s 2.0 capabilities available to other cryptocurrencies. The name was originally suggested by jl777 to reflect the development and integration of Nxt core components into BitcoinDark (BTCD), as a first example, and hopefully other coins as time goes on. SuperNET – which uses many of Nxt’s key functions, such as the Asset Exchange and services built on top of Nxt, will be the prime case for NxtInside. The approach is similar to the ‘Intel Inside’ campaign, in which other companies (including Apple) use Intel chips to power their devices, thereby extending Intel’s brand reach far beyond their own hardware.

Casual end users will get lots of 2.0 crypto features but might not even notice that it is powered by NXT. Their public coin address will be linked to a NXT address “under the hood”, so they can login just by using a link in their coin’s client. This is fully in the spirit of what Nxt is designed to be.

VanBreuk writes, ‘SuperNET is most likely the biggest initiative and the best example of development using Nxt we have currently. Other services, websites and applications like SecureAE, Nxtty or Lith, to name a few, are also examples for NxtInside branding.’

IMPORTANT NOTICE: There is no NxtInside asset offered on the Asset Exchange. Any assets named ‘NxtInside’ or similar that claim to fund or benefit from this initiative are false.

SuperNET Client GUI

BTCD and SuperNET are both members of the NxtInside programme (read more on how BTCD and SuperNET are linked below). longzai1988 is currently working on the SuperNET GUI, which will be based on the NXT GUI. QT clients will have an ‘Enter SuperNET’ button, which will open SuperNET in a browser and auto-login for the user. The GUI can be customized for each coin.

longzai is currently working on integrating Coinomat features into the SuperNET client. These 4 currencies are working correctly by the time of writing: NXT, BTC, LTC, PPC. Here is a sample screenshot:

BTCD and SuperNET

Questions have been raised about the exact link between BTCD and SuperNET. The confusion is understandable given the large overlap of technology and key people working on each. SuperNET could not work without the infrastructure offered by BTCD, in the same way it could not operate without Nxt’s 2.0 functionality. Analogies are often more powerful than explanations:

Imagine a new country, spread out in front of you. Scattered around the landscape is everything you might want or need. Stores, selling anything you could ever hope to buy. Exchanges, financial services and trading posts. Casinos and other entertainment centres. News and information outlets. These are like the services offered by SuperNET. Incredibly, although the cryptocurrency world offers so many remarkable businesses, no one has thought to link them before. They are just a set of isolated organisations, operating in their own niches, or competing with each other.

BTCD is like the highway that connects everything. The infrastructure it provides will enable communication between you and all of the different services, through what it shaping up to be one of the most secure comms links ever developed. It’s like a network of roads, tunnels and bridges that enables you to go anywhere and do anything – and do so in complete privacy.

To complete the analogy, Nxt is the sophisticated engine that gets you around this network of roads and to the services you can find there. It’s a 2.0 car that’s designed to do far more than drive from A to B. NXT doesn’t just allow you to transact; it houses the Asset Exchange and many of the other services that will allow you to interact meaningfully with others on your way around in SuperNET – the whole Super Network of integrated coins and innovative services.

So how might it look in practice?

In the following example (thanks to Este Nuno and mackowski for this concept: https://forum.thesupernet.org/index.php?topic=40.msg133#msg133) you’ll need the BTCD wallet that longzai is working on to access SuperNET. The good news is: That’s it. Everything is held inside it. That’s the whole point of SuperNET – UNITY.

You’ll click a tab in the BTCD client – it will open SuperNET. From there, you can send cash anonymously using Teleport (James’ BTCD anonymity protocol), or if you’re particularly concerned about privacy, you can pass it through a Boolberry exchange first, layering Teleport with BBR’s ring signature technology. Perhaps you’ll play neoDice for a while – it’s built into the client. You might check your portfolio of assets, which include SuperNET itself and see that you’ve been paid dividends, which include both NXT and some shares in a new company that has recently joined SuperNET.

Maybe you want to exchange some NXT for BTC? You can do that instantly through the peer-to-peer exchange, InstantDEX. Or maybe you need some fiat to spend, so you cash some coins out to your SuperNET card – the anon card offered by Coinomat – in case you don’t have access to a BITS ATM, where you can just withdraw your coins as physical cash.

You browse FreeMarket for a while to see whether anything interesting is for sale. Lastly, you send an encrypted message to a friend about a joint project you’re working on. All of this happens completely securely, because privacy is built into every transaction that takes place with BTCD. Or any other coin in SuperNET.

BITS ATM

More information about the partnership with Bitstar coin (BITS) has been requested. Although BITS are not a core SuperNET coin in the way that Nxt, BTCD and BBR are, they are a critical supporting member. The idea is to add SuperNET to the BITS wallet, and to the ATM they are sponsoring.

This would allow users to access SuperNET coins from BITS ATM – effectively ‘teleporting’ cryptocurrency into fiat. Ether, who also created the SuperNET logo, is designing the main splash screens and brand identity for the ATMs. The SuperNET logo will be displayed in the ATM’s user interface. Ether’s growing number of SuperNET designs can be found and downloaded here: https://forum.thesupernet.org/index.php?topic=208.msg1415#msg1415. He is offering his time and expertise for free, so please do tip him if you like his work!

Code review and Telepathy

James was going to submit core code to Kristov Atlas for a review (Atlas is a computer science security consultant who has worked on a number of cryptocurrency projects). However, this is delayed due to the new innovation (‘Telepathy’) that James is adding to SuperNET. ‘I just made a big breakthrough in anon level. No sense in having something reviewed that has already been improved!

James continues:

The problem I solved is the one of how to communicate to someone without ANYBODY knowing what their IP address is. I believe I have a deterministic and provable routing that isn’t broadcasting that achieves this. It was one of those nice to solve if I can figure it out, but not absolutely needed things, as there is already a lot of anon in the fixed sized, onion encrypted variable delay packets, but now being able to transact with someone just via a 64bit address that has nothing to do with the ipaddress. This I believe is quite a leap in anon level.

Privacy is fundamental to BTCD and SuperNET. The whole ecosystem is built on a platform that allows the highest level of privacy – far, far beyond anything any other coin offers, and possibly any other system in the world.

Telepathy is a very recent development James made when he was looking into ways of routing messages through a network. In a peer-to-peer network, such as SuperNET or BitTorrent, there is no central authority – this would make it vulnerable to attack (for example, Napster’s centralised look-up was its downfall). Obviously, such a vulnerability would be unacceptable for SuperNET. More recent networks use DHT, distributed hash tables, to achieve true decentralisation, along with scalability and resilience (tolerance to nodes joining and leaving the network).

The properties of the particular DHT James was looking into, called Kademlia, offer a very interesting benefit: it is possible to send a message to an address that belongs to no one, but because of the way the network is structured, you can still guarantee it will reach the intended recipient. The amazing thing is that even the sender does not need to know the recipient’s IP address for this to be possible. And clearly, this poses serious problems for any attacker!

These ideas are being written up into a white paper which will be submitted for peer review. For now, an analogy is again one of the most effective ways to communicate the basic concept:

Alice wants to send a message to Bob but does not want anyone else to know that he is the intended recipient. Instead of sending it to his house, she writes it on the side of a van and instructs the driver to drive to a random address that is in line-of-sight of Bob’s house – and 20 other houses. It doesn’t matter whether anyone owns the property at the destination, or even whether there is a property there. All that matters is that Alice knows Bob will see the van as it passes.

In reality, the process is far more robust than this. The packets will be encrypted so that only the intended recipient will be able to read them. The ‘addresses’ used to deliver a packet cannot be linked to any IP address; the packet is introduced at a random location rather than from Alice’s ‘house’. The important point is that, even in the highly unlikely event of an attacker having enough information to determine the destination of a packet, it will be impossible to correlate it to the user’s IP address – because the apparent destination has no IP address! The real recipient is one of twenty or so others who pass the packet along the chain.

Cryptocurrency is still a small slice of the economy and has gained limited real-world traction so far, but perhaps we should not be surprised at the innovation that is happening here: the crypto world contains a relative handful of people, but they are self-selected coding, security and economic specialists. Where these disciplines overlap, great things happen.

API calls and testing

SuperNET’s functionality will be available via a series of API calls: https://forum.thesupernet.org/index.php?topic=196.msg1349#msg1349. Ultimately these will be accessed through the GUI. For now, we need more people to test them using the SuperNET-enabled BitcoinDark client. This can be installed on a home computer or VPS. The more network nodes the better: Reliable testing requires at least 50 and ideally 100. The nodes needed to bootstrap the network will be funded by the staking income from the BTCD paid during the ICO.

If you are able to, please install the client, start testing the API and add your thoughts and comments to the documentation: https://forum.thesupernet.org/index.php?topic=154.msg1387#msg1387. Remember: James has offered a 1,000 BTCD bounty if you can find a way to deanonymise telepods. Good luck!

There will no doubt be more questions about the components of SuperNET and the roles they play. Please do ask them and we will do our best to answer. We would also encourage you to join the SuperNET forum for more information and updates.

It’s a shorter newsletter this week. After the series of deals that took place last week, most of the activity has gone into creating the infrastructure for SuperNET, with James adding new functionality to Teleport and the SuperNET API every day. So whilst there’s not so much to announce this time, there’s plenty going on under the surface and we are seeing rapid and exciting developments to the ‘highway’ technology that will link and power the network of assets and coins.

Topics

Asset linkages

NXTventure in SuperNET

ATOMIC

[Funding request]

ATM support and Bitstarcoin

SNN funding and distribution

SuperNET Radio

SuperNETwork

Development update

First Telepod

Multisig

The last mile – deaddrop accs

Related links

Asset linkages

There has been some confusion among investors about SuperNET’s asset holdings, their connection to each other, and how this all affects SuperNET and its revenue streams. This is understandable, since many of the assets are interlinked and own differing proportions of each other.

To make things clearer, the SuperTEAM is working on a visual map of the SuperNET, its assets, dividends, revenue and so on. Meanwhile, James’ assets are listed and updated HERE.

Anyway, there have been many complaints that all my assets makes some confusion, so in a way SuperNET is a solution for this as it is putting in the key jl777 assets all in one place. If you want to invest in me (and all the other cryptos I approve of), just get SuperNET.

NXTventure in SuperNET

InstantDEX has obtained 8 percent more of NXTventure, as James did a marketrate swap between his own holdings of NXTventure and InstantDEX’s own holdings of the InstantDEX asset, making InstantDEX the largest NXTventure assetholder.

James writes (https://forum.thesupernet.org/index.php?topic=182.0)

There was a suggestion that I merge NXTventure into SuperNET, but this is not very feasible. So I did what I could by exchanging NXTventure assets I had for InstantDEX assets. Since SuperNET owns a big chunk of InstantDEX, this gets SuperNET that much more of NXTventure… There is no short term effect as both were swapped at the current market prices.

ATOMIC

One of the sources of confusion has been between Atomic and InstantDEX, since they both appear to enabe real-time cross-blockchain trading, allowing users to exchange one coin for another almost instantly.

One of the weaknesses of the current cryptocurrency ecosystem is the existence of centralised exchanges – a serious compromise and regular point of failure in a technology built on decentralisation. At present, however, there is no other way to track which coins are being exchanged, which users are exchanging them, who owns how many coins, and so on – and in the process, a significant proportion of the coins are held in hot wallets, which are often less than secure.

CryptAxe, creator of Atomic, writes:

InstantDEX offers the ability to replace a major part of the exchange process, however it needs a way to keep track of all of these exchanges so that is where a solution like ATOMIC comes into play. ATOMIC allows ANY coin without any changes to begin tracking their exchanges on one blockchain. This means there is no central authority that declares an exchange good or bad, it is decided by the nodes on the ATOMIC network via the POE and POG protocols.

Atomic works at a lower level than InstantDEX, providing the instant-exchange platform with a way of tracking trades.

[Funding Request]: VRC

James:

I have a deal with VRC community for a swap of 538,916 VRC against SuperNET asset. The recent price for VRC was ~100:1 ratio against SuperNET.

VRC has committed to making a cloud storage GUI for SuperNET using the recent DHT API I made. The plan is to create a way for users (and companies or even other coins!) to rent out HDD space to the cloud. All of the details have not been worked out yet, but the VRC community has been quite active with its SuperNET support and with a cloud storage solution will definitely be worthy of SuperNET core inclusion. I will be working with them to solve whatever tech issues come up.

I hope to be able to provide a 50/25/25 revenue share from the cloud storage split between the user/VRC/SuperNET, so all SuperNET users can monetize their unused HDD, VRC will create a revenue stream for their hodlers and of course SuperNET will get a nice new revenue stream and increase the overall userbase.

I request approval for 5389.16 SuperNET assets from working capital and another 100 BTC for open market purchases so that we can get close to the target level of 10% stake

James

ATM support and Bitstarcoin

Whale has negotiated a deal with BITS (Bitstarcoin), who will be deploying ATMs in Cyprus and will become a core component of SuperNET.

The deal is for 1 million BITS in return for 15 BTC (10 BTC + 5 BTC worth of NXT). A further 1 million BITS will be placed in escrow. 60 percent of these will be released to SuperNET if the price stays over 12,000 satoshis for a week. If BITS does not purchase ATMs, 40 percent of the escrow will also belong to SuperNET; if they do deploy them then the 40 percent will be returned to BITS.

This should provide a mutually-beneficial arrangement between SuperNET and BITS, protecting and rewarding each. There are currently 16 million BITS, so this deal reaches the 10 percent goal for SuperNET ownership.

The Bitstarcoin dev team will continue to enhance the multi-function in-wallet services, in conjunction with the commercial development of the ATM project and related ancillary services being funded and managed by the Cyprus company and their development team, working closely with superNET to present a unified platform that will be able to offer a full-service ATM user interface into cryptocurrency 1.0, 2.0 and beyond.

It gives me great pleasure to announce the integration of the Bitstarcoin project as a core component of superNET, in partnership with the commercial incorporation of both Bitstars and other superNET coins onto a cryptocurrency two-way ATM service being rolled out on the island of Cyprus.

Alongside the sale and purchase of standard bitcoin, users will be able to choose from a raft of alternate cryptocurrency projects such as the PoS Bitstars, with its generous staking rate for early adopters, as well as multiple other superNET crypto projects to be announced.

The projected implementation schedule is for the first few units to go live in Limassol Q1 2015, with our intention being to engage in discussion with relevant Cypriot government departments to ensure a good understanding of the technology, its function and potential for widening the scope of alternate routes towards enhancing both commercial and personal economic capabilities.

We choose not to disclose our company name at this time in order to avoid unnecessary interruption or interference. A full public announcement and press release will be made shortly before launch, along with the rollout of online support services and communication channels.

SNN funding and distribution

Last week an asset dividend of SNN (https://forum.thesupernet.org/index.php?topic=118) was announced. SNN, the SuperNET News Network, will be ‘a community owned and operated media outlet, with stories and content written by a wide range of contributors about crypto technologies and markets. 75% of revenues will be distributed to assetholders. Revenue sources include advertising, subscriptions and pay-per-view.’

James writes, ‘Since this is a seed stage enterprise, some funds will be required. The budget is 500,000 NXT to get to revenue producing stage.’

The project is managed by fumanchu808. You can read his work on Bitcoinist and CoinTelegraph, and view his LinkedIn profile (https://www.linkedin.com/in/edwarddeleonhickman) here.

The asset allocation is as follows:

fumanchu808 – 10 percent

NXTventure dividend – 7.5 percent

SuperNET dividend – 7.5 percent

JLH – 5 percent

SuperNET – 40 percent

SNN for other key contributors and writers – 30 percent

SNN will create content for the supernet.org website and also for the SuperNET GUI. As part of SNN, an advertising sales function will be created, which will also be used to enhance SuperNET ad sales. As one of the major revenue-generating aspects of SuperNET, the advertising is of strategic importance.

SuperNET Radio

Founder Kevondo writes, ‘SuperNET Radio is “The Voice of SuperNET” but [also] the voices of the other coins, Core, Supported, or Associated are also eligible to be heard.’

The plan is ultimately for SuperNET radio to broadcast 24/7. It will be as informative as possible, initially with the aim of educating the public and exploring further ideas when the project gains greater traction. DJs are welcome to join on a voluntary basis.

Some of the suggestions and points raised by Kevondo include:

Social, philosophical, and legal commentaries related to Crypto are welcome.

People (DJs) to produce and represent any of these programming topics will be necessary.

We need to find knowledgeable, committed folks for each feature, coin, or asset who can assist listeners in the application, use, and value of the topic being discussed.

When would be the best time to schedule shows? This will depend on the coin/asset and market. It should be a time when the majority of owners, users and developers will reached.

What languages should the broadcasts offer? The scope of SuperNET and crypto is international. How can we move SuperNET forward in different markets?

Should it be subscription based? On start-up? Eventually? For individuals, or for coins and assets?

Help, feedback and ideas on all of the above are welcome. You can find out more and make suggestions here: https://forum.thesupernet.org/index.php?topic=181.0.

SuperNETwork

SuperNET’s network of public privacy servers (that is, the nodes in the privacy network that are publicly visible, forming the backbone of the infrastructure) will be used to store files in the cloud as well as relaying transactions and messages.

James writes:

Of course, no assurance that all parts of all your files will reside in these community servers, nor that the community funding will be there forever, but for now it looks like we can fund this from the [BTCD] staking revenues… These servers can be providing HDD for cloud storage, public routing, public access points, etc.

The plan is ultimately to have around 100 community-funded servers that can be relied on to be up and running all the time. Initially, BTCD needs some 50 privacy servers, running on a network of VPS machines. These will be used to bootstrap the network and for testing. Funding is available from the staking income of the BTCD collected during the SuperNET ICO (see vote).

This is a vital part of the ecosystem and SuperNET cannot be launched without it. If you are able to help set these up and maintain them, please contact Azeh on the bitcointalk forum.

Development update

Development of key functionality has taken further steps forward this week. Along with the capacity for cloud storage, James has used the SuperNET API (via BitcoinDarkd) to create the first telepod – the package that houses the information required for anonymous transactions.

James writes:

Now that the privacyNetwork is stabilizing and even has cloud storage, Teleport will be able to be finalized and then it is InstantDEX/Tradebots. Those two are related and will become the active coded projects soon.

All the networking is actually vitally needed by InstantDEX, so in essence great progress has been made, just in the foundation that InstantDEX/Tradebots needs.

Multisig

James:

Since without the 50 servers, I cant really debug the DHT and I need that for the next step, I decided to take a break and looked into curve25519

I figured out how to do 3 of 3 multisig!
I think I can also do 2 of 3, but still need to verify the 3 of 3.

I remind you I am just a simple C programmer and not a cryptographer. If anybody has the math background to confirm or deny my experimental finding, please post!

The thread can be found here: https://forum.thesupernet.org/index.php?topic=154.msg1262#msg1262

The ‘last mile’

One of the technical issues of the privacy network is sending a package through the public privacy nodes (i.e. those which have public IP addresses) and out to the destination address without the user’s IP address being compromised. James has been working on a system of probabalistic routing, which would have addressed this, though it was complex and inefficient.

A new development means he is now working on a way to complete the final hop out of the privacy network – the ‘last mile’ – far more effectively.

James writes:

My coding the DHT is what allowed me to solve this, so those that think these seemingly unrelated things are slowing down the progress, it is quite the opposite. It is helping achieve the ultimate goal!

TL:DR it is possible to transact with someone without ANYBODY actually knowing the IP address of the destination, and therefore very private comms are possible. If these comms happen to have telepods and funds are being transacted, then commerce can happen using this method.

Since people had a hard time understanding the simpler form of Teleport, I fear that few will be able to understand the new deaddrop approach. Hopefully somebody will provide some feedback on its weaknesses, if it has any.

I feel this is a fundamental improvement in privacy. In all prior versions, there was at least a statistical linkage of your acct # with IP address. Now, all that is happening is that packets are being sent to dead addresses so there is nothing to correlate.

This is a bit of unexpected extra work, but the qualitative increase in privacy is well worth it. A key thing to realize is that all of the SuperNET just gets this level of privacy for all comms.

—

Life moves extremely fast in the cryptocurrency world. With no bureaucracy or institutional structures, creativity is given free rein. James is one of the leaders of the financial revolution, with several of his projects breaking new ground – turning coins into assets, paying dividends to coin stakers, enabling cross-coin functionality and an entirely new approach to anonymity.

The tech behind SuperNET is breaking new ground, promising a powerful and robust platform for crypto commerce and communication. If you are interested in joining the SuperNET community, you can find out more on the SuperNET forum. There are roles for everyone willing to contribute.

A week is a long time in cryptocurrency, and never has this been more true than for SuperNET. This last week has seen a flurry of activity, with a series of new companies and services being added to the project. Additionally, there have already been unexpected dividends, with several more now expected in the coming month. As a result, SuperNET is slowly but steadily gaining in price and looking forwards to a very bright future.

SuperNET & UNITY

BTer has automatically exchanged all TOKEN for UNITY (the ticker symbol for SuperNET). No further action is required by assetholders. Also withdrawal of UNITY has now been enabled.

On the NXT Asset Exchange (AE), a manual process was created. Most TOKEN has now been exchanged for SuperNET, but if you have not done so already, you should redeem your TOKEN. TOKEN does not pay dividends and was only created to simplify the issue process for SuperNET.

To redeem your TOKEN on Nxt AE, transfer it to NXT-7Y5B-J8LQ-SL5P-3ULFL.
It will be exchanged for SuperNET. This is a manual process and will not take place instantly but within 24 hours, so please be patient.

Asset dividends paid

In an unexpected but welcome development, SuperNET has started paying dividends in the form of assets in new companies with which it has formed partnerships and acquired a stake.

neoDICE

The first dividend was neoDICE – a re-creation of the legendary blockchain betting game SatoshiDice, a Bitcoin-based game which achieved immense popularity but fell from favour when it began requiring confirmed rather than unconfirmed transactions, thereby delaying gameplay.

Like SatoshiDice, neoDICE uses a provably fair blockchain-based system but includes a solution to avoid the delays caused by requiring confirmations. It is hoped that this game will capture a significant proportion of SatoshiDice’s former market – but for NXT.

NeoDICE (Nxt asset id 18184274154437352348) should be in testing mode within a month and will pay dividends in NXT from its profits. 100 percent of neoDICE assets were distributed as follows:

NeoDICE traded as high as 62 NXT each before settling down to 40 NXT bid/50 NXT ask, so the dividend was worth 2.5 NXT to 3 NXT, which on ~200 NXT [SuperNET] price makes it a 1% to 1.5% dividend.

NXTinspect

The second “surprise-dividend” was NXTinspect.

NXTinspect is a community-driven initiative designed to provide investors with the necessary information to make informed trading decisions. ‘Our service looks to promote legitimate assets, while highlighting suspicious activity/scams.’

NXTinspect’s IPO offer was for 300,000 asset tokens, which is 30 percent of all NXTinspect assets. James bought 250,000 of them (25 percent of the total), using NXTventure funding. However, since NXTinspect will be auditing James’ assets, there is a clear conflict of interests here. James writes:

I invest in good people, and they are all good people. When I see good trades, I just automatically click, click, done. So I didn’t even think about the potential for looking like conflict of interest.

However, it seems there could be an appearance of conflict since I am involved in dozens of different projects.

I want to use NXTinspect services and clearly it won’t have much value if there is this appearance that I am having some sort of undue influence over them.

The upshot was this:

5 percent to jl777hodl

5 percent for SuperNET dividend

5 percent for NXTventure dividend

10 percent sold on NXT AE at 2.5 NXT each

As soon as the AE assets were sold, the dividends were processed. Sales on the AE would offset any losses to James from the dividends issued, so the process was broadly break even for him. After this, James holds no NXTinspect, other than the indirect gain of jl777hodl NAV and whatever goodwill SuperNET and NXTventure assets gain from this dividend. For more information, see here. Dividend payout details can be found here.

Dividend distribution

The dividends were successfully distributed. Those with assets on BTer and Poloniex have received their dividends in their exchange accounts, and AE dividends have been issued directly to holders’ Nxt addresses.

As previously announced, investors who hold unredeemed TOKEN did not receive the dividend.

The leftover neoDICE assets were given to valarmg, in return for the work he has done in creating and running the redemption and dividending scripts. These unclaimed neoDICE assets equalled around 1,500 or 3 percent of total dividend payout.

Pre-ANN asset dividends

A new series of assets and dividends are already in the pipeline and will hopefully be released by the end of October. These are:

SNN (SuperNET News Network), asset ID 15113552914305929842. SNN is planned to be ‘the SuperNET of crypto news: a ‘community owned and operated media outlet, with stories and content written by a wide range of contributors about crypto technologies and markets.’ 75 percent of SNN revenues will be distributed to assetholders. Revenue sources include advertising, subscriptions and pay-per-view, and ‘since this follows a more normal web inventory, it will allow the establishing of ad sales prior to having the SuperNET GUI monetized with ads.’

BOOST (asset ID 9719950459730291994) is a startup incubator that provides zero-interest loans for new NXT companies and will have close links with NXTventure, both in funding and adopting new companies. It will act as a conduit for small companies that want to become a qualified NXTventure listing.

Two further assets are on the way. One is described by James as ‘pretty normal, except it is building on top of an existing asset to help it reach a rather large market.’ The second, however, is ‘a new type of asset… This will create a new way to solve a common problem in the crypto world and I am happy to be involved in this asset.’

These are all exciting new developments and highlight the activity that is going on. These four dividends could be issued in October – though as ever, there are no guarantees of timescales and dividends will be announced as they happen. Investors are encouraged to do their own due diligence before purchasing further assets.

Combined dividends

NXTventure and SuperNET will be releasing combined dividends.

NXTventure has proved a highly popular asset. Its purpose is to fund promising new enterprises in return for a proportion of their assets. These are dividended out to NXTventure shareholders.

Whilst this will reduce the number of shares dividended out by NXTventure due to sharing with SuperNET, the publicity and funding of SuperNET will on the other hand bring a much greater number of companies into the space. There will not be a full overlap between the dividends offered by NXTventure and SuperNET. As James puts it:

There will probably be 4x more assets in the pipeline. (….) I expect that NXTventure will have some smaller assets that will be dividended that won’t have a SuperNET counterpart. There will also be some special assets that would only be SuperNET dividends.

Other SuperNET assets and services

ATOMIC

ATOMIC (asset ID 11694807213441909013) is a new service designed to enable 100% decentralized trading for all coins and assets on a single blockchain. It will be integrated into the core of SuperNET.

100% transparent and public ledger backed exchanges across blockchains (trading of any asset or any coin)

Transactions from one blockchain to another will be as fast, if not significantly faster than any existing centralized method of exchange.

The ability to spend any coin, anywhere (ex: ATOMIC will allow users to spend NXT at a store which only accepts payments to a BTC wallet) without having to wait for a deposit, confirmations, exchange, withdrawal, more confirmations and then finally spend the coins.

ATOMIC will take the form of a DAC (Decentralised Autonomous Corporation). It will be open source and run transparently, with direct community involvement. ‘Once a critical mass has been reached it will become a full DAC with no central points of failure, agenda, laws or anything else that could slow it down. Initial versions will probably not be a fully automated DAC’.

The fees on the ATOMIC network will serve to reward both the miners and asset holders. The standard transaction fees required by blockchain technology will be rewarded directly to the miners.

The asset holders will receive dividends in the form of the accumulation of non-Atom transaction fees. For example if user A with Bitcoin wants to send money to user B who only wants Litecoin, user A will pay a tiny fee in Bitcoin to a special address that will initiate the exchange. Due to the nature of the ATOMIC network, the exchange requires that the user also have enough Atoms in their wallet to cover the transaction fee to the miners.

This process gives the power to set the price of Atoms to the nodes on the network while also rewarding asset holders directly with fees collected by the exchange process.

Freemarket

Freemarket (asset ID 134138275353332190) is a decentralized physical goods store (similar to a decentralised eBay). 20% of FreeMarket listing fees (7.77 NXT) will go to SuperNET, counting from 2015. Freemarket will have no fees for the rest of 2014, other than the the 1 NXT listing fee and 1 NXT confirmation fee. Freemarket will be released on October 12.

Some advantages over options like eBay:

No need to register and give up any personal information

No third-party payment processor

Fees are low; No fee in 2014, thereafter a listing fee set at 7.77 NXT, about 10 NXT once you include fees for NXT AMs

The NXT blockchain makes FreeMarket resistant to takedown

No centralized servers anywhere; FreeMarket does not require centralized administration

Allows for unlimited, buyer-selectable shipping options, each with a separate fee

Messages between buyer and seller, as well as shipping address and shipping method, are encrypted

Items can be searched by category and up to 3 optional tags, as well as item title, seller ID, and item ID

SuperHODL

To keep track of the SuperNET assets holdings, a new account and asset has been created. SuperHODL: asset no. 13120737659249432970, account NXT-USU4-92UY-KEYT-4H649. This is simply an accounting convenience to segregate authorised but non-disbursed funds.

‘SuperHODL is a 100% owned subsidiary of SuperNET and is really just a way to keep things separated. Maybe down the road some of it would be put on the market, but no plans for that now.’

MyNXT.info

As was announced in last week’s newsletter, SuperNET is investing in an online wallet site. Now that funding has been agreed, further details can be given. James writes:

SuperNET invested in mynxt.info, a long time NXT company with online wallet, mobile app, block explorer, etc. Over the coming months mynxt will be working on integrating their services into the SuperNET GUI.

This is a very promising move for SuperNET, since a significant proportion of users prefers to use a web wallet than a downloadable client.

SuperTraders

With the end of the ICO, the SuperTraders are now active. SuperTraders are a team of cryptocurrency traders with a proven track-record of returns. Their aim is to increase SuperNET’s NAV through trading on different exchanges. (In other words, their activity is predominantly intended to increase the value of the SuperNET asset directly, rather than to generate dividends.)

The SuperTraders receive a maximum of 10 percent of SuperNET’s working capital, or around 570 BTC. Their capital will be awarded incrementally as they increase their own bankrolls through successful trading, thereby increasing confidence and limiting downside risk. Each time they increase their bankroll by 50 percent, SuperNET also increase their available funds by 50 percent. The aim is to allocate the largest bankroll to the SuperTrader with the largest and most consistent gains.

SuperNET CORE coins

Here’s a summary of the SuperNET’s official core coins: NXT, BTCD and BBR.

Any addition of new core coins will be announced in this newsletter and on SuperNET forum.
Coin representatives can send applications to join SuperNET CORE to coins@thesupernet.org.

NXT is the ‘2.0’ cryptocurrency that powers much of SuperNET’s backend crypto functionality. The asset exchange, Multigateway (for distributed crypto trading), alias system, even the GUI behind the new wallet – all of these are built on the ‘NXT Inside’ approach. As the leader in these 2.0 features and services, NXT is the natural choice for SuperNET. It makes perfect sense to leverage this functionality whilst rewarding the NXT community for their continued support and further development of the key tech.

BitcoinDark (BTCD) brings Teleport to the SuperNET table. At its very simplest, Teleport is the anonymity protocol that underpins BTCD. However, it offers far more than privacy. Teleport is a complete ecosystem for making anonymous cryptocurrency transactions, right down to the level of hiding users’ IP addresses from attackers.

Teleport uses one-time addresses called telepods to transfer standard denominations of funds (100, 50, 10, 5, 1 etc) to a new recipient. The use of fixed amounts avoids correlating sender and recipient if the quantity is distinctive (a transfer of $500 would currently be 129.19896640 BTCD, which would be instantly recognisable). Several other tricks such as random delays will make it almost impossible to correlate transactions on the blockchain.

The network of privacyServers will not only shield users from prying eyes, but will form the communication infrastructure for SuperNET – enabling them to exchange information of all kinds securely and anonymously. You can read more about Teleport in this article on NXTER.org.

James has announced a 1000 BTCD bounty (https://forum.thesupernet.org/index.php?topic=76.msg337#msg337) to anynone who can attack and deanonymize Teleport.

Teleport is currently nearing beta-testing. It will permanently be available for free to BTCD, and will initially be free for other cryptocurrencies. From 2015 it will begin to charge small fees for non-SuperNET coin transactions. Bitcoin alone opens a potential market over a thousand times larger than BTCD’s own current market cap.

Boolberry (BBR) offers additional anonymising features to provide an extra layer of privacy. Boolberry is based on CryptoNote, an implementation of ring signatures. Ring signatures provide a good level of privacy but generally do so at the expense of blockchain bloat. This raises questions about the long-term sustainability and user-friendliness of CryptoNote coins. Additionally, there are circumstances under which anonymity may be lost, but Boolberry’s lead dev has come up with an innovative way of avoiding this problem, as well as reducing bloat. You can find out more on the bitcointalk BBR thread.

Development updates

The CORE technology for SuperNET is nearing beta and is currently being tested with about a dozen live servers. ‘While it is not working perfectly, the bugs found so far do not seem so serious. As soon as the low level networking is solid, it will be possible to complete the higher level applications like Teleport, Tradebots, etc. Also, the API can be opened up for other coins to use and to implement their own special features.’, James writes – and continues:

I finished debugging all the DHT calls. Ended up adding data compression to the loop, along with out of band binary data beyond the JSON in the onion packets. Also, a lot more difficult that I thought it would be, but finally got all packets to be the same size, thus removing a leak of info about the type of commands you are sending.

I implemented a variant of http://www.cs.rice.edu/Conferences/IPTPS02/109.pdf, using 64bit NXT addresses for the hash, eg. least significant 64bits of sha256. collision resolution is something for a layer above this level to do. I plan to add some simple file API on top of this so we can get a nice decentralized storage along with sending of files.

Of course all this is under heavy encryption, but still the IP addresses are not shielded yet. The sendmessage API appears to be working in simple topologies, should work with more layers, but need a larger network to test this.

Once such an entry is in the .conf file the SuperNET code can access a coin and do whatever logic the application layer (like Teleport) will use. More a matter of testing than developing.

For non-bitcoin compatible coins, some glue code will need to be created to implement the functions that the SuperNET applications will require. Still compared to the total work, it is a small fraction, so basically any coin can be supported with some interface work.

There comes a time when a project needs to stand on its own two feet and not rely on its founder anymore. For MGW, that time is now. it will work much better when all of MGW is NOT centralized through me. I am running all three MGW servers, which is not its design. It also means three times the work to keep them up to date, synchronized, etc. There have been production servers “almost ready” for over two months now and I have to hand off the MGW.

Quote from: mael on Today at 07:53:25 pmother thing: the adress who got my NXT (NXT-XVBJ-B8VA-Q7MB-HGZXQ) has received a lot of transactions the same day, same hour. What's this ?This appears to be someone run...

yes, I will do that for Ignis snapshot.I just trusted bter when they announced they will take the Ardor Snapshot.Look, this is what you can find looking on archive.org a version of bter main site on September, 18th, 2016[url=https://web.archive.org/...